topic Re: 75% Utils Help. in Credit Cards

75% Utils Help.

Anonymous — Tue, 01 Mar 2011 03:06:28 GMT

Hi,

I have recently started paying rent ($750) on a Citi Forward card ($1000 CL) and pay it off on the day that the transaction post. Is that a really bad thing to do? Since I pay it in full before the statement cuts, it shouldn't affect me FICO-wise, but does it negatively affect CLI with Citi later down the road since they see me using 75% of the aviliable credit? I have had this card since Nov 2010, never got a CLI.

Thanks.

Re: 75% Utils Help.

vish1 — Tue, 01 Mar 2011 04:34:43 GMT

@Anonymous wrote:
Hi,

I have recently started paying rent ($750) on a Citi Forward card ($1000 CL) and pay it off on the day that the transaction post. Is that a really bad thing to do? Since I pay it in full before the statement cuts, it shouldn't affect me FICO-wise, but does it negatively affect CLI with Citi later down the road since they see me using 75% of the aviliable credit? I have had this card since Nov 2010, never got a CLI.

Thanks.

I don't think you should have any problem with this. IMHO, you may find it easier to get a CLI as you can call them and tell them you need a CLI as you are going through a whole lot of pain managing with this CL

Re: 75% Utils Help.

Anonymous — Tue, 01 Mar 2011 14:50:34 GMT

I wish I could put my rent on my amex...for the points

Re: 75% Utils Help.

vish1 — Tue, 01 Mar 2011 15:02:36 GMT

@Anonymous wrote:
I wish I could put my rent on my amex...for the points

If it was possible, I would take a chase aarp right now and get something like 40$ in cb just from rent.

Re: 75% Utils Help.

Walt_K — Tue, 01 Mar 2011 16:49:14 GMT

@Anonymous wrote:
I wish I could put my rent on my amex...for the points

Can you pay your rent in cash at the leasing office? You could try buying coins from the Mint's direct ship program. And then use those to pay your rent. I have no idea if this still works. It's discussed ad nauseum at Flyer Talk and elsewhere. Basically, people will buy dollar coins from the mint and then use those coins to pay off their credit card bills to get the miles. The mint changed the rules so that you have to agree that you won't immediately deposit them in the bank but rather introduce them into circulation. You can also only buy $1000 worth every 10 days or something like that. Of course, there doesn't appear to be any enforcement of the restriction against depositing them with the bank.

I've read that some credit cards stopped awarding points for it, but I don't know which ones. Again, I'd direct you to Flyer Talk. In any event, you'd be complying with the terms because you wouldn't be depositing them in the bank.

Re: 75% Utils Help.

Anonymous — Tue, 01 Mar 2011 18:32:59 GMT

I live in Michigan and we use a site call rentpayment.com to pay our rents, for the last few months I have been paying with ACH transfers but now I will use my CC to pay rent and pay it in full the next day...

Re: 75% Utils Help.

Anonymous — Tue, 01 Mar 2011 22:13:08 GMT

@Walt_K wrote:
@Anonymous wrote:
I wish I could put my rent on my amex...for the points
Can you pay your rent in cash at the leasing office? You could try buying coins from the Mint's direct ship program. And then use those to pay your rent. I have no idea if this still works. It's discussed ad nauseum at Flyer Talk and elsewhere. Basically, people will buy dollar coins from the mint and then use those coins to pay off their credit card bills to get the miles. The mint changed the rules so that you have to agree that you won't immediately deposit them in the bank but rather introduce them into circulation. You can also only buy $1000 worth every 10 days or something like that. Of course, there doesn't appear to be any enforcement of the restriction against depositing them with the bank.

I've read that some credit cards stopped awarding points for it, but I don't know which ones. Again, I'd direct you to Flyer Talk. In any event, you'd be complying with the terms because you wouldn't be depositing them in the bank.

Thanks Walt...Im very aware of the coin thread on FT...Ive followed it for awhile now. No, I cant pay in cash. Even if I could, honestly, I wouldnt do the coin thing. I rather enjoy my FR-free Amex's (so far) and the points they bring. I dont want to shake the cart by trying to manipulate the system.