Hello Everyone,
I have a question in regards to my NFCU More Rewards Amex Card. It's my understanding that Amex likes to be paid in full each month. However, I've noticed that under my reward offers that my NFCU MoreRewards card is offering me 9mos Interest Free if I pay 2k within 90 days. I only have $630 left and I have almost 60 days so I will qualify for this offer. This is my first NFCU credit card. I have a $3,500 SL.
My final debt is a 6k repo from GM Financial that was a joint account with my wife and reflects on both of our reports. It last reported Jan 28th, 2021. I've been holding back on making payments on it so that it doesn't keep updating. Id like the one payment that I make to be PIF. My plan is as follows..
1. Pay the remaining $630 over the next almost 2 months to qualify for the 9mos interest free offer with NFCU.
2. Come November 7th, it will be 90 days and I'll become eligible to get a second NFCU card. I'll apply for a second card and then request a CLI (or is it vise versa, CLI then second card?)
3. I currently have almost $10,000 in total credit. All of which is available with the exception of a small balance that I use for AZEO. I'm hoping that between the CLI, New Card and I'm up for a 3xCLI on my Delta Skymiles Gold card that I'll be at or above 20k. (Within that time frame I could probably get a CLI on my CareCredit and Cap1 as well) With that being said, I'll apply my GM Financial balance to my MoreRewards card and have 9mos to pay it off. Having $20k+ in total will keep my utilization at or below 30% so it shouldn't kill me on utilization.
Once that's paid, I'm completely debt free. That brings the next question though, I feel like this is a good game plan. Do you all agree? However, with the MoreRewards card being issued through Amex is it going to hurt me to carry a balance on that card for the next 9 months? (Possibly less)
