I just got a low rate CC. I want to maximize it. I have 390 in CC payments a month (in other CCs; I just got off CCCS and applied for another CC, which I got, I'm not charging it up again). What is the best way to maximize its rates? (it beats all other CCs by at least 10% in the interest rate department). I pay the bills on the 1st of every month and have a 22 day grace period (which may be moot... one of the first things I'm going to do is do a BT to pay off the $1k collections so I'll have a balance for three months but there's a 16% difference between the two). Other than BTs, I think I can save a month's interest on each payment. Let's say August 1st I make my first payment but also take from my monthly budget for other bills and make a double payment. Then I'd use the CC to charge those things. Then on Sept 1st I use what would have gone to the CCs to pay off that portion of the card, and use $ from my monthly budget to again make an "advanced" payment. That would always save me a month's interest in theory right? I don't want to charge it up completely. I also want it for emergencies. Thanks!
I haven't. I'm completely sure it's totally legal. It's like, hey you scratch my back, I scratch yours. How would it work with this scenario: It's about 5 collection accounts all handled by the same company. All but 1 say PAID. Should I ask for all 5 to be deleted and pay it off?
As long as you do not violate the requirements of borrowing and paying back, you are free to do with your credit whatever you wish. We started a business back in 1996 based entirely on our credit cards, that is how we maximize our credit. www.creditsense.com
