Originally Posted by
jeelele
So if I understand you correctly, you keep the money from your credit card(s) in your savings account and then pay it from that savings account a day before the statement closing. How do you manage to do this? I mean how can you withdraw the CC amount into your savings account without incurring any fee(s)?
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I keep the money to pay of my CC in my savings account and pay off the CC the day before payment is due, not the day before the statement closes.
I don't spend money I don't have so the money is in my savings account. I've never taken cash from a CC.
I just don't see much point in paying the bill before it's due, let alone before the statement even closes for it! I'm not getting charged any interest from my CC.
It also helps that most of the stuff charged to my CC is reimbursed business expenses so I'm earning interest on money that was never mine to begin with. I'm not making a killing doing this, but it takes me the same amount of time to pay the bill so whether I do it before the statement closes, before the bill is due, or other random intervals is irrelevant so i'd rather make a couple hundred a year on the side. Any finance charges would quickly eat into that so i always pay in full...just not before I have to.