@Credit-hoarder wrote:
@dlister70 wrote:
@MakingProgress wrote:My electic company charges a 3.95 fee to use your CC. On my avg. electric bill I might make .05 after the fee. My gas bill does not charge a fee as long as it is autopay. So the real value there is the gas bill.I would be tempted to just pay a flat $200-$500 or whatever you can afford to the electric bill, and let the extra get credited to your electric account. Then they'll take next month's bill out of the account credit, and when your account credit runs out and you actually owe them money again, pay the $300-$500 again and repeat. This way you would get more than 5 cents after the fee, and you're spreading the $3.95 fee over several bills instead of paying the fee each month.
Edit: This is all assuming that you're paying the card off each month, of course. If you're paying interest, then cash back doesn't really matter anymore as the interest eats it all up. I assume that you're paying yours off, but just in case someone wanders in from Google and finds this thread, I figured it'd be worth mentioning.
Interesting idea about paying a large amount with one fee. My avg. utility bill runs about $75 to $110 depending on the time of the year--and they charge $5.95 for cc payments. So I might try paying $300 or $400 and be ahead for at least a few mos. + have that $5.95 fee once up front averaging $1 or $2 per. month + collect any rewards from my card. I get tired of paying that bill every single month anyway!
@Credit-hoarder wrote:
@dlister70 wrote:
@MakingProgress wrote:My electic company charges a 3.95 fee to use your CC. On my avg. electric bill I might make .05 after the fee. My gas bill does not charge a fee as long as it is autopay. So the real value there is the gas bill.I would be tempted to just pay a flat $200-$500 or whatever you can afford to the electric bill, and let the extra get credited to your electric account. Then they'll take next month's bill out of the account credit, and when your account credit runs out and you actually owe them money again, pay the $300-$500 again and repeat. This way you would get more than 5 cents after the fee, and you're spreading the $3.95 fee over several bills instead of paying the fee each month.
Edit: This is all assuming that you're paying the card off each month, of course. If you're paying interest, then cash back doesn't really matter anymore as the interest eats it all up. I assume that you're paying yours off, but just in case someone wanders in from Google and finds this thread, I figured it'd be worth mentioning.
Interesting idea about paying a large amount with one fee. My avg. utility bill runs about $75 to $110 depending on the time of the year--and they charge $5.95 for cc payments. So I might try paying $300 or $400 and be ahead for at least a few mos. + have that $5.95 fee once up front averaging $1 or $2 per. month + collect any rewards from my card. I get tired of paying that bill every single month anyway!
Credit-pimp, this is how I've been paying mine for the last two years. Once you start and become accustomed to it. It will be hard to go back to once a month. With discipline you can cut the payments down to 3 or 4 times a year. You'll also begin to build up a little credit on it.
That will snow ball and take the bill even further out. As of now, I won't pay another electric bill till May 2019.
@Brian_Earl_Spilner wrote:@Anonymous go fetch me the garden club cattle prod. We got a runner.
Briney I resisted the urge. This card is on my list for a planned escape in March.
