topic Re: using UR to satisfy minimum payment? in Credit Cards

using UR to satisfy minimum payment?

Anonymous — Mon, 15 Apr 2019 18:00:54 GMT

I have a $28 min payment on my chase card. I want to redeem $28 worth of UR points for it. I'm thinking this should satisfy the minimum payment amount, but I see a line on the chase website stating that "Statement credits will reduce your balance but you are still required to make at least your minimum payment". I'm just a bit skeptical if what I'm planning to do will be considered a min. payment. Thanks!

Re: using UR to satisfy minimum payment?

Anonymous — Mon, 15 Apr 2019 18:02:46 GMT

I don't think the UR statement credit will count as a minimum payment. Pretty sure you'll still have to pay whatever the minimum is. You can of course redeem the UR points as cash back into your bank account and then pay Chase from that bank account.

Re: using UR to satisfy minimum payment?

CreditCuriosity — Mon, 15 Apr 2019 18:12:27 GMT

Never can use rewards on any CC I know of to meet minimum payment, that must be paid by whatever method you normally pay.

Re: using UR to satisfy minimum payment?

Anonymous — Mon, 15 Apr 2019 18:12:53 GMT

thank you for the swift reply. i will use your method just in case. thanks!

Re: using UR to satisfy minimum payment?

coldfusion — Mon, 15 Apr 2019 19:54:02 GMT

@CreditCuriosity wrote:
Never can use rewards on any CC I know of to meet minimum payment, that must be paid by whatever method you normally pay.

+100,000

Re: using UR to satisfy minimum payment?

kdm31091 — Tue, 16 Apr 2019 01:20:56 GMT

I think Discover is the only exception to the rule, but otherwise yes, you must pay and not use rewards towards min payment.

Re: using UR to satisfy minimum payment?

UpperNwGuy — Tue, 16 Apr 2019 01:48:24 GMT

Lenders want to see new money for minimum payments.

Re: using UR to satisfy minimum payment?

Anonymous — Tue, 16 Apr 2019 02:54:25 GMT

Even if it were allowed, I don't think it would be a good idea to make minimum payments with rewards. I feel they would see it as that peson not being able to afford said payments.