topic Re: Should I pay off balance on credit card or save the money? in Personal Finance

Should I pay off balance on credit card or save the money?

Anonymous — Sun, 06 Dec 2015 08:06:43 GMT

i have a balance of about 4500 on my Chase card. I have about 7+ months of living expenses in my savings. My balance doesn't accrue interest until June of 2016. I've been debating if I should pay off the balance immediately or just slowly pay off until May? I've been itching for a CLI with Chase, though. Any suggestions?

Re: Should I pay off balance on credit card or save the money?

lg8302ch — Sun, 06 Dec 2015 12:21:12 GMT

It is difficult mission if you are looking for auto CLI. On my Freedom account I have tested heavy usage by spending and full payment over several months and as well as carry a balance during the 0% APR period. In my case nothing has given any results in terms of CLI or APR reduction. So I would recommend to simply do whatever is better for you and not try to please Chase It might not get you anywhere anyhow.

Re: Should I pay off balance on credit card or save the money?

Anonymous — Sun, 06 Dec 2015 17:17:24 GMT

It seems you've answered your own question.

Paying off debt and having savings are two things that shouldn't be optional if there is any humanely possible way to do both.

You're "itching" for a CLI. Those are pleasant bonuses, not crucial.

If you were paying interest it might be more complicated, but as it stands I'd strongly advise you distract yourself from the itch and keep doing what makes the most sense.