Rent on CC...

[taxi818]

I agree. He earned his ability to pay with cc. Op also stated he still will pay his bill even with no job. So why so drastic? Obvious op is very responsible and knows what he is doing. Or she. You can't put this person in your shoes. Or pants. I say go for it. Until you get your job. Next job. Keep making payments. As you know what you can handle or not.

[taxi818]

@crediadduct. +1

[Jlu]

Responsible would be calling your creditors to inform them that your employment & income siutation has changed.

Wise would be carefully juggling your debt while you find a job as fast as possible.

Two similar terms with drastically different outcomes.

[Imperfectfuture]

@ezdoesit

The programs ARE NOT GOVERNMENT BASED, he wouldn't gualify. And for those of us whom have been there, as pointed out many times, it doesn't end well.

But y'all not 55+, go in with your bad selves. Careful is in order, and it can spiral out of control. There is nothing wrong with asking for help if you need it.

[ezdoesit]

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@Imperfectfuture wrote:
@ezdoesit

The programs ARE NOT GOVERNMENT BASED, he wouldn't gualify. And for those of us whom have been there, as pointed out many times, it doesn't end well.

But y'all not 55+, go in with your bad selves. Careful is in order, and it can spiral out of control. There is nothing wrong with asking for help if you need it.

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Who is paying for those programs?  Also the OP never said that he was going to start paying his rent with his CC and let it start to accumulate.  He spoke about paying he rent with his CC and then paying it off or most of it.  If I could pay with my CC I would.  You also told him to put to his big boy pants on and cut back on expenses which you didn't know how his spending habits are.  People need to eat, have somewhere to sleep and means to get around. 

Your right there is nothing wrong with asking for help if you need it but he just lost his job maybe he just wants to try it on his own before asking for help and there is something good to be said about that. 

[longtimelurker]

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@Imperfectfuture wrote:
@ezdoesit

. And for those of us whom have been there, as pointed out many times, it doesn't end well.

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But there are lots of different "there"s.  If OP can find a job fairly quickly, which obviously depends on skill set, what type of job and geography, then this is the easiest solution.

If it takes longer, yes, there is some danger, but OP can evaluate that in say three months.

It's not all doom and gloom.  While credit cards are far from the best form of loan, in times of crisis like unemployment other avenues are not so available, and using them for (albeit somewhat expensive) short term financing can make a lot of sense.

[Andy77]

The fee to charge my rent on my card is 1.10 per day or about 33 dollars per month.  Other then my essential living expences my rent is the larget outflow of money every month and I get 1,533 miles or points or what ever by putting the rent on my card.

I am usually out of work 2-4 months out of the year and always seem to be A-OK and wind up not in debt, but this is the first go around I have charged my rent, then paid it off then 3 days later charged it again.  I don't want to spook BofA

I guess what I was asking was a simple question...would a bank like BofA see a charge that said RENT and flip out and CLD me or something drastic...or do they not even look that closely at the charges themselves

[Imperfectfuture]

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@Andy77 wrote:

The fee to charge my rent on my card is 1.10 per day or about 33 dollars per month.  Other then my essential living expences my rent is the larget outflow of money every month and I get 1,533 miles or points or what ever by putting the rent on my card.

I am usually out of work 2-4 months out of the year and always seem to be A-OK and wind up not in debt, but this is the first go around I have charged my rent, then paid it off then 3 days later charged it again.  I don't want to spook BofA

I guess what I was asking was a simple question...would a bank like BofA see a charge that said RENT and flip out and CLD me or something drastic...or do they not even look that closely at the charges themselves

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Does the charge actually say RENT?  I know conservative banks don't like cash advances.  Me, PERSONALLY, would have paid the rent in cash, and put the personal expenses on card.  However, I have several months bills saved up in my td ameritrade brokerage account.

Still suggest you get a part time job to help extend unemployment.  I hope they don't AA Or CLD you.  Tis WHY I suggest don't do it again.  Once one AA happens, they have this little risk database they use (particularly US Bank), called IDS, while others like Innovis.  Could end up cascading affect.  If it doesn't say rent, but some property managers name (none of mine ever took credit cards), you should be good for one month.  If you keep doing it, they might think you're paying your mortgage to collect points, and it even looks worse if you carry a balance.  I would re design finances for survival, look at agencies that might help with utilities (if they get behind), and even pull some income at auto shop or fast food joint.

Believe me, you'll feel MUCH better not building up your debt during a low income period.

[Andy77]

My best friend pointed out something, he used to work at a bank, if credit card companies did not want landlords to take their cards then the millions of landlords and corps that represent building owers that do take them, would not take them.  There are plenty of property managment corps that take credit cards, so it cannot be as frowned upon as some of you might suggest...

[longtimelurker]

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@Andy77 wrote:

My best friend pointed out something, he used to work at a bank, if credit card companies did not want landlords to take their cards then the millions of landlords and corps that represent building owers that do take them, would not take them.  There are plenty of property managment corps that take credit cards, so it cannot be as frowned upon as some of you might suggest...

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Right, it's all swipe fees to them.   

And it won't say "Rent", just MCCd as some real estate/property management etc (maybe 6513 - REAL ESTATE AGENTS/MGRS RENTALS) and, as said above, this is a perfectly normal thing to do.