What would look better? CC troubles

[HeavenOhio]

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@Anonymous wrote:

I thought the Platinum was a charge card, and are you not penalized for leaving a balance on it? 

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You're not penalized except in the Experian FICO 98 family of scores. Those scores use one's highest balance as a psudo-limit. Because the classic 98 score is used for mortgages, it would make sense to pay attention to charge card balances come mortgage time.

[NRB525]

Maybe check with DH how he intends to pay off his Platinum charge card balance that he incurred? As an AU he is somewhat responsible for his charges, no?

[Anonymous]

I love your comment so much, 1,000 Kudos to you! Very good advice, thank you.

[Anonymous]

The money is pretty secure, he's gotten these bonuses for the past 4 years consistently, so there's really no problem with expectation. I'm pretty sure that's the reason he charged it outside of the budgeting we were doing. I usually have no problems with this but I was kind of bummed we had gotten out of all our CC debt for the year and seeing balances again is frustrating. Plus, it's a pretty big amount that'll have to sit there for months. Paying 6K out of our monthly incomes and saving 0 dollars of liquid cash is kind of stupid, considering the fact that in not long I will be able to pay it fine. I'm just not sure between what cards to juggle it on to, and the amount, to avoid high util on one specific card and interest.

"In the end, the interest you’re paying is likely more than you’re earning with your savings anyway."

That's the thing, if I BT I won't have to pay interest. 

[Anonymous]

Yes, the platinum is a charge card but they usually give you a payovertime CL. It's like a revolving account inside your charge card. So you can leave on balances like you can with a credit card, for all purchases over $100.

[Anonymous]

Our money is joint. If he pays it off, I pay it off. We don't have separate money, so we're both responsible for the charge! lol

Either way, AU's charges are usually (if in not all cases) the responsibility of the primary cardholder. 

[Anonymous]

If it’s “our money” what’s the problem with him charging it?

You also wrote ...”and my terrible shopping habbits (I know)”. I think you’re missing the context about everyone saying you don’t have a CC problem, you have a budgeting problem. Also, if you are spending that much on platinum a month, they really don’t like the pay over time. It’s a prime reason for a FR. (I did the same thing years ago, a FR is not fun).

[Anonymous]

Where did I state there was a problem? I specified in my post a sentence that literally said I had no problem, I had consented, but my only problem was the quantity because we had just zeroed all our cards and I'm looking to see how to make the amount work while money we're expected comes in.

The advice I'm asking is just how I should go about with the BT.

In regards to the amount I'm spending, it's irrelevant to the post. Again, the advice I'm asking is whether I should transfer it's complete balance to DC or 50/50 it between Plat & DC, nothing related to the things you mentioned.

[tacpoly]

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@Anonymous wrote:
Where did I state there was a problem? I specified in my post a sentence that literally said I had no problem, I had consented, but my only problem was the quantity because we had just zeroed all our cards and I'm looking to see how to make the amount work while money we're expected comes in.

The advice I'm asking is just how I should go about with the BT.

In regards to the amount I'm spending, it's irrelevant to the post. Again, the advice I'm asking is whether I should transfer it's complete balance to DC or 50/50 it between Plat & DC, nothing related to the things you mentioned.

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If you’re not going to pay off the Amex bill in full, then of course transfer whatever remaining balance to a card with a 0% offer. It’s the best way to save money on interest. Unless you’re worried about your score (ie applying for a loan) the goal is really to save as much money as possible. If you’re worried about cc applications, I don’t think new cards report immediately so your balance transfer may not be on your credit report when you apply (others will have to confirm as I don’t follow scoring or reporting closely). 

And while you may may think that your (and your husband’s) spending are not relevant to this issue, the fact that you even have to resort to balance transfers or use high balances to deter your shopping suggests you may not have complete control over your finances or have the healthiest financial habits.  It seems like you have enough income that you can easily spend $13,000 on a trip — shouldn’t you also have enough savings to easily pay off $6,000 (without having to wait for a bonus)?

[Anonymous]

Thanks for the advice.

It's still not relevant because my financial habits, income etc aren't in play here. My question is pretty clear. Besides, I don't think it's prudent to take out savings to pay off an amount tha I could pay off very easily in the future.
My income, the amount I spent on the trip (that was mentioned specifically to state why I would be annoyed by a big amount being charged once again towards the card, and giving insight to what I charged such a big amount on, not "Hey, look at what I spend on trips, infer my income") and my shopping habits are things that have absolutely nothing to do with the advice I'm looking for, it has nothing to do with the post itself, I'm not seeking financial habit advice. Again again again, the advice I'm asking is whether I should transfer its complete balance to DC or 50/50 it between Plat & DC, nothing related to my income, my savings or whether or not I spend too much on socks.