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Established Member
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Registered: ‎02-24-2010
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People w/ rewards card - when do you PIF?

Hello guys,

 

For those who use their credit cards for everyday use to rack up points/rewards, when do you usually pay it off?

 

Say you charge $100 for dinner one night.  Do you pay it off in full the next day or do you wait until the bank cuts a statement?

 

Just trying to figure out what the best way to go about this was.  Thanks.

Valued Contributor
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Registered: ‎10-16-2008
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Re: People w/ rewards card - when do you PIF?

[ Edited ]

Hi, ludawg23!

 

I try to always pay in full online just before the statement cuts, so that a $0 balance reports to the credit bureaus.  But as long as you PIF on or before the due date, you're good to go!

 

 

Just to add something here...if you carry a balance on a rewards card (you don't PIF by the due date), you pretty much wipe out any benefit that the rewards card brings to you.  The interest rate on rewards cards is higher than non-rewards cards, too, so that's always something to consider when deciding which of your cards to use if you do need to carry a balance.

Message Edited by Uborrow-Upay on 02-26-2010 01:41 PM
Established Member
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Registered: ‎02-24-2010
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Re: People w/ rewards card - when do you PIF?

Hello Uborrow-Upay! Thank you for your prompt reply

 

That sounds good, I will make sure to keep track of all my purchases and make sure I PIF before they cut the statement.  Appreciate the help Smiley Happy

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Registered: ‎01-28-2008
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Re: People w/ rewards card - when do you PIF?


ludawg23 wrote:

Hello guys,

 

For those who use their credit cards for everyday use to rack up points/rewards, when do you usually pay it off?

 

Say you charge $100 for dinner one night.  Do you pay it off in full the next day or do you wait until the bank cuts a statement?

 

Just trying to figure out what the best way to go about this was.  Thanks.


Yes, on all 11 of my cards.  

Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
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Re: People w/ rewards card - when do you PIF?

I pay by due date.   The rewards are the same.
Established Contributor
Posts: 586
Registered: ‎03-03-2009
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Re: People w/ rewards card - when do you PIF?

You have to pay before the grace period which varies by lender. As long as you pay off a purchase two weeks after the post date, you will be fine.
Regular Contributor
Posts: 155
Registered: ‎07-25-2008
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Re: People w/ rewards card - when do you PIF?

I always paid off my rewards card PIF before the due date so it will show on my credit report with a $0 balance. It is always good to pay in full.
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Re: People w/ rewards card - when do you PIF?


credithappy wrote:
I always paid off my rewards card PIF before the due date so it will show on my credit report with a $0 balance. It is always good to pay in full.

Hi...and welcome to the forums.

 

Do you mean that you pay before the due date...or before the statement cuts? I always PIF just before the statement cuts, which shows a $0 balance on the credit reports. For most credit cards, it is the statement balance that is reported.

 

I do this for both my rewards and non-rewards cards...makes no difference.

Regular Contributor
Posts: 155
Registered: ‎07-25-2008
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Re: People w/ rewards card - when do you PIF?

Yes, I thought I said I paid in full before the due.  I like to paid all my bills early if I can so I will not be charge a late fee.  You know these banks have problems went you paid near the due dates.  They will try to charge you for every little thing. 

Amex ZYNC - Amex BCP - Amex Mercedes-Benz - Amex PRG - Amex TrueEarnings - Emigrant Direct Visa - Xcel FCU Visa - Walmart Discover - Sam's Club Discover - Macy's - Bloomingdales - Nordstrom - Sam's Club CC - Discover IT and US Bank Visa FlexPerks, CitiHHonors Sig Visa - NAVcheck, NAVcashRewards Sig Visa, NAVgoRewards MC, Chase Amazon VISA and BoA CashRewards VISA
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Registered: ‎03-25-2007
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Re: People w/ rewards card - when do you PIF?

When conveniant  Smiley Very Happy

 

It does not matter in terms of rewards when you pay.

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