NFCU CLOC Repayment Question

[Anonymous]

I basically use credit cards to move money around to purchase inventory and avoid interest. I use a card just after the monthly statement giving me like 55 days to pay it off.

With the help of this forum, I got a NFCU membership, got a $5,000 Cashreward card and then got the $15,000 CLOC.

If I use the CLOC can I pay if off monthly like credit cards without owing any intrest if paid in full?

Basically can I use a credit card just after statement, pay it off with my CLOC in 55 days, then pay the CLOC off in 25 or so days with money from my sales avioding interest?

Thanks for any info.

[srloring13]

There is no grace period on the CLOC.  You pay interest the same day you use the funds.

[Anonymous]

Thanks for the reply.

Obviously that is not what I was hoping to hear.

I already use Behalf to pay invoices, which is 2% a month and I usually only do it for 30 days. I use Behalf because they dont charge a fee to send an ACH or Wire, which the local bank charges $35 to do, so I can basically get 30 days to pay it back for the same amount as if I used cash from my checking for anything below $1,750.

I do use PayPal Working Capital also. Last time was $12,500 for a flat fee of $459. So I am not sure my CLOC will be of much use unless I had a hot deal I really wanted.