Using tax refund to pay cc balances

[Mike360]

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@creditnocash wrote:

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@Mike360 wrote:

I pay off my cards monthly so no i won't. I could use it to pay down some of my 0% APR purchases from Best Buy but i don't care about my scores since i'm not getting any new credit so i'll let it sit in the bank and use the offer's full duration.

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the two ive done I just paid minimum and then paid in full the last month. 

havent really gone on app sprees so dont really have to worry about scores even though i check them everyday lol. 

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I've had them during the last 2 months of a promotion apply my payment to my promotion before applying it to my standard purchases. i called them to ask and it does say on the statement that during the last 2 months of a promotion your payments apply to your promo before anything else. they were nice and refunded me the interest i paid and now i know for the future.

[creditnocash]

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@Mike360 wrote:

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@creditnocash wrote:

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@Mike360 wrote:

I pay off my cards monthly so no i won't. I could use it to pay down some of my 0% APR purchases from Best Buy but i don't care about my scores since i'm not getting any new credit so i'll let it sit in the bank and use the offer's full duration.

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the two ive done I just paid minimum and then paid in full the last month. 

havent really gone on app sprees so dont really have to worry about scores even though i check them everyday lol. 

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I've had them during the last 2 months of a promotion apply my payment to my promotion before applying it to my standard purchases. i called them to ask and it does say on the statement that during the last 2 months of a promotion your payments apply to your promo before anything else. they were nice and refunded me the interest i paid and now i know for the future.

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if you call and make a payment over the phone, they can just directly apply it too whatever promo you want (you have to ask for it though) 

(i had my remote starter on one and an xbox, wii, games on another) (i was 19 when i did those lol) 

[beb86]

must be nice i might have to pay on haha but yes a tax refund is a nice way to boost your scores 

[timkrof]

I'm dropping at least 90% of my return on my CC balances. Can't wait!

[injustifiiable]

I'm only getting back like $50 so maybe I'll pay my Express bill with that...lol.

[bs6054]

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@beb86 wrote:

must be nice i might have to pay on haha but yes a tax refund is a nice way to boost your scores 

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Yes, I know that there are exceptions but the finacially savvy method is not to have refunds (which means you have been giving a free gift to the IRS).  Ideally, minimum payment to avoid penalties.   But there are those who get refunds for reasons not related to withholding and those that need the discipline of it as a forced savings account.

[injustifiiable]

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@bs6054 wrote:

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@beb86 wrote:

must be nice i might have to pay on haha but yes a tax refund is a nice way to boost your scores 

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Yes, I know that there are exceptions but the finacially savvy method is not to have refunds (which means you have been giving a free gift to the IRS).  Ideally, minimum payment to avoid penalties.   But there are those who get refunds for reasons not related to withholding and those that need the discipline of it as a forced savings account.

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+1...I changed my withholding so it doesn't take too much. It's kinda nice having the extra $$$ every pay period. lol.

[BearsAndTurtlesRtheBest]

@injustifilable LOL thats funny

[creditnocash]

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@injustifiiable wrote:

I'm only getting back like $50 so maybe I'll pay my Express bill with that...lol.

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how much did you pay though? if you dont mind me asking.... 

i claimed 0 and they took out about 7k during the year =/ 

[Anonymous]

3k of my $3500 going to CC debt lol. Wish I could just go spend it on whatever but CC debt comes first