Just to check, if I put lots of charges on the card, and then I make bpays during the month to pay off any possible over spend, does a bank frown on that?
Have been hammering the CC
anna10 on 23/09/2015 - 07:32
Last edited 23/09/2015 - 07:47
Last edited 23/09/2015 - 07:47
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Just to clarify - "overspend" do you mean "spend over credit card limit"?
You can pay/put money in your account as many times as you like anytime,
If you spend over the limit, there will be charges eg $25 for over credit limit spend. You can opt out over credit limit spent by contacting the bank, Do this on all cards - credit/bank accounts, as sometimes happen by mistake.
Learn the date/s of your regular cut off date for credit card statement period is and pay wisely. I found smetimes paying too early well before the cut off date may confuse the paying cycle.Thanks guys. The bank's immediate reaction was to increase my credit limit so that helped. As I now have a cc that gives points for all charges incl rates, insurances, ATO etc, I put the lot on the card. Also, now my mate gives me all their big bills. All a great opportunity for points earning.
It's also a good way to collect interest. You earn interest for the 30-55 days you haven't paid back your credit card. Every cent helps!
Great until they don't pay you back
I never ever pay them interest.
This is normal and wise.
Not sure why you think it is a problem. The banks would prefer you paid minimum payment and never paid off your credit card so they can charge you lots of interest. What they think doesn't matter, you do what is best for you (ie. pay it off in small bits during the month).
A lot of people do that (ie. make lots of credit card purchases and then pay it off) just to accrue qantas/flybuys/reward points on their credit card.