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Regular Contributor
Posts: 232
Registered: ‎06-15-2013
0

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?

Citi DC VS - 11.4k - 12.24% - 6/12 ~ Chase Ink+ WEMC - 5k - 10.24% - 7/12 ~ Chase Freedom VS - 5k - 12.99% - 2/13 ~ Chase Hyatt VS - 5k - 15.24% - 6/13 ~ Amex Hilton - 5.8k -13.99% - 8/13 ~ Chase IHG WMC - 3k - 15.24% - 1/14 ~ Chase Ink$ VS - 5k - 13.24% - 5/14 ~ NFCU $ VS - 20k - 9.65% - 12/14 ~ Citi AA WEMC - 4.4k - 10.24% - 12/14
Senior Contributor
Posts: 4,694
Registered: ‎02-23-2011
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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.  

Regular Contributor
Posts: 232
Registered: ‎06-15-2013
0

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.

Citi DC VS - 11.4k - 12.24% - 6/12 ~ Chase Ink+ WEMC - 5k - 10.24% - 7/12 ~ Chase Freedom VS - 5k - 12.99% - 2/13 ~ Chase Hyatt VS - 5k - 15.24% - 6/13 ~ Amex Hilton - 5.8k -13.99% - 8/13 ~ Chase IHG WMC - 3k - 15.24% - 1/14 ~ Chase Ink$ VS - 5k - 13.24% - 5/14 ~ NFCU $ VS - 20k - 9.65% - 12/14 ~ Citi AA WEMC - 4.4k - 10.24% - 12/14
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