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04-20-2013 07:08 PM
04-20-2013 07:10 PM
If you don't have the 0% intro interest promo, then yes.
ahh, i do have the 0% promo so i might as well pif my statement balances and request a pif myself after 6 months.
04-20-2013 07:13 PM - edited 04-20-2013 07:14 PM
Dang!!! I just paid my balance to 0$ before my first statement cut. ugh
I would suggest using Blk8's method starting your second statement. I dont see why you wouldnt get the same results by month 7, ya know?
04-20-2013 10:25 PM
04-21-2013 05:56 AM
Always PIF if you can.
As others have stated, they make swipe fees from the transaction. No card issuer will go hungry!
04-22-2013 01:14 AM
04-22-2013 08:01 AM
04-22-2013 08:49 AM
The thing with blk8's method is that it takes away from being able to use the card for everyday purchases. Or am I totally misunderstanding what he means?
I take it like this:
Month 1: I use my card for $400 in total charges. Statement: $400 - ok
Month 2: I pay half of my statement balance and can't use the card. Statement: $200 - pay half but you can still use
Month 3: pay the rest to 0$ balance and don't use the card. Statement: $0 - PIF balance including what you may have used month 2
Month 4: can finally use my card and charge another $400. - ok
Month 5: pay half. No card use. Statement: $200 - pay half but you can still use
Month 6: pay the rest to $0. Don't use card again. Statement: $0 - PIF balance.
Month 7: auto CLI.
Correct? Or am I way off?
Month 1-3 use your card as you would like
Month 4 - use 90% of your CL and PIF
Month 5 - use 90% of your CL and PIF
Month 6 - use 90% of your CL and PIF
Call and ask for a substantial CLI .... let them the rep know you are finding yourself having to use other cards cause the CL on your Chase card is insufficient. :-)
04-25-2013 04:17 PM
Ideal usage according to several Chase credit card execs I've spoken to is heavy usage (30-40%) but never more than 50% utilization. Pay down the balance every month, but leave 3-10% revolving. Never make minimum payments. I would still advise people to PIF because paying interest just to get that little edge isn't worth it IMO.
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