Credit Card repayment strategy.

[Anonymous]

This is a great guide. Ive even changed sime duedates on my bills to coincide with by statement end date when my CC is due, and when i get paid so im always oaying minimal intrest balance Nothing worse than a bill hitting a day before the statement end date. Lol.  We charge about 2500 on our amex with bills per month, reporting balance is always low. My amex bill today is 3300, my minimum payment is 35$ because of the low balance of last months reporting. 😋

Great info!

[Kikimin]

Great post!! Thank you will definitely be doing this!!!

[kennerchick]

Thanks for this Norman!  I have 1 Cap 1 card that has a statement date of the 3rd and is due on the 28th of the month.  I have another due on the 16th and 2 other's on the 8th.  My husband has 1 due on the 2nd and his other 2 have not dropped their 1st statement yet, but I'm expecting it to do that soon.

So I just need to make sure I pay at the time they are all due and then use the cards? Is this correct?? 

[Anonymous]

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@kennerchick wrote:

Thanks for this Norman!  I have 1 Cap 1 card that has a statement date of the 3rd and is due on the 28th of the month.  I have another due on the 16th and 2 other's on the 8th.  My husband has 1 due on the 2nd and his other 2 have not dropped their 1st statement yet, but I'm expecting it to do that soon.

So I just need to make sure I pay at the time they are all due and then use the cards? Is this correct?? 

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Pay the account down just before the CLOSING date (make sure your minimum is satisfied before its due date), then use it for spending whatever your budget allows, after the closing date. You have to be disciplined and stick to your budget for this to work.

[RonM21]

As the other poster Norman said, maintaining your budget is key. You almost have to play it "tight" so to speak, to maximize your results, and that is okay. You are the one who will benefit!

[kennerchick]

Thanks. I'm not sure I can do this, but will try. My husband's FPB card has a balance of $230 I've been paying and not using it for 2 months now