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Bill Pay w/Credit Card Do You or Don't You

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Frequent Contributor

Re: Bill Pay w/Credit Card Do You or Don't You


Open123 wrote:

hutchj wrote:

Perfect. I just saw the warning for the cash advance fee, and I figured I'd ask you because you have experience. I really just want to pay my carnote with it, I'm okay with my student loans coming from my account because I get a discount for it coming out automatically.


I can't speak for other cards, but I can say definitively there's no cash advance fee for using Citi, US Bank, Chase or Discover.  For the $250, I'd recommend loading it in 3 installments.  Sometimes, I'll use different cards just to mix and match.


Just curious but what is the benefit of loading in 3 installments?

EQ 1: 792 (11/17) 2: 824 (11/17) EX 801 (11/17) TU 815 (11/17)
Chase Freedom VS - 5k - 13.99% - 2/13 ~ Chase Hyatt VS - 5k - 16.24% - 6/13 ~ Amex Hilton Surpass - 4.5k -14.99% - 8/13 ~ Chase IHG WMC - 5k - 16.24% - 1/14 ~ Chase Ink$ VS - 12k - 14.24% - 5/14 ~ NFCU $ VS - 25k - 10.65% - 12/14 ~ Amex ED - 30k - 13.99% - 1/16 ~ Citi AT&T WMC - 23k - 16.24% - 4/16 ~ Chase Sapphire Reserve VI - 10.6k - 16.99% - 8/16 ~ Chase FU V - 10.6k - 14.99% - 12/16 ~ Merrill+ VS - 10.1k - 13.99% - 2/17 ~ USAA Limitless VS - 20k - 17.9% - 8/17
Gone: CSP, AA x3, Ink+, TYP
Message 41 of 43
Super Contributor

Re: Bill Pay w/Credit Card Do You or Don't You


370Z wrote:

Open123 wrote:

hutchj wrote:

Perfect. I just saw the warning for the cash advance fee, and I figured I'd ask you because you have experience. I really just want to pay my carnote with it, I'm okay with my student loans coming from my account because I get a discount for it coming out automatically.


I can't speak for other cards, but I can say definitively there's no cash advance fee for using Citi, US Bank, Chase or Discover.  For the $250, I'd recommend loading it in 3 installments.  Sometimes, I'll use different cards just to mix and match.


Just curious but what is the benefit of loading in 3 installments?


Nothing really, except for ease since the monthly maximum is $250, and per day maximum is $100.  It's easier for me to just divide it equally, as opposed to $100, $100, and $50.

 

I've learned that it's best to avoid even round numbers, but I'm sure it isn't relevant in this case.  

Message 42 of 43
Frequent Contributor

Re: Bill Pay w/Credit Card Do You or Don't You


Open123 wrote:

370Z wrote:

Open123 wrote:

hutchj wrote:

Perfect. I just saw the warning for the cash advance fee, and I figured I'd ask you because you have experience. I really just want to pay my carnote with it, I'm okay with my student loans coming from my account because I get a discount for it coming out automatically.


I can't speak for other cards, but I can say definitively there's no cash advance fee for using Citi, US Bank, Chase or Discover.  For the $250, I'd recommend loading it in 3 installments.  Sometimes, I'll use different cards just to mix and match.


Just curious but what is the benefit of loading in 3 installments?


Nothing really, except for ease since the monthly maximum is $250, and per day maximum is $100.  It's easier for me to just divide it equally, as opposed to $100, $100, and $50.

 

I've learned that it's best to avoid even round numbers, but I'm sure it isn't relevant in this case.  


Gotcha, I forgot about the $100 daily maximum. I'll be setting up an account tonight.

EQ 1: 792 (11/17) 2: 824 (11/17) EX 801 (11/17) TU 815 (11/17)
Chase Freedom VS - 5k - 13.99% - 2/13 ~ Chase Hyatt VS - 5k - 16.24% - 6/13 ~ Amex Hilton Surpass - 4.5k -14.99% - 8/13 ~ Chase IHG WMC - 5k - 16.24% - 1/14 ~ Chase Ink$ VS - 12k - 14.24% - 5/14 ~ NFCU $ VS - 25k - 10.65% - 12/14 ~ Amex ED - 30k - 13.99% - 1/16 ~ Citi AT&T WMC - 23k - 16.24% - 4/16 ~ Chase Sapphire Reserve VI - 10.6k - 16.99% - 8/16 ~ Chase FU V - 10.6k - 14.99% - 12/16 ~ Merrill+ VS - 10.1k - 13.99% - 2/17 ~ USAA Limitless VS - 20k - 17.9% - 8/17
Gone: CSP, AA x3, Ink+, TYP
Message 43 of 43