pay off cc every month how to get no interest??

[jessrose18]

I just recently paid off my discover card. I was thinking about charging monthly expenses on it to get my miles, and then paying off the balance each month. I know people who do this avoid the interest charges but how?? Do I have to pay it off right before the statement date? It seems if I waited for the statement it would have the interest on it...thanks for any advice, I have never done the month to month thing, and don't want to pay any finance charges....

 

[Anne34]

Hi!! We do this every month and rack up lots of reward dollars with our Discover. We wait until we get the bill and just pay before the due date. As long as they receive the payment by that date, then you are not charged interest.

 

[BridgetBordeaux]

We have paid off our card each month for the last 15 years. As long as you pay off the balance by the due date on the statement, there is no interest. You basically get a free ride for 25-50 days.

For years we have paid everything possible with the card to max out our rebates.

Welcome to the club!

 

[seeking pixie dust]

When you get your statement, send in a check for the full amount charged by the due date. This is how you avoid interest. They only charge interest on what you don't pay each month. We pay our credit cards in full each month. Yes to earn points...but it's also a good protection tool. I'd rather someone steal my credit card than debit or cash....I can always get the account credited for the items I didn't buy. This does happen every once in awhile...then you cancel card and get a new one.

 

[njsweetP]

This is all we ever do. I charge just about everything on my Discover (food, clothing, etc.) and/or Amex (gas)(thru Costco) and get $$ back on all my purchases. The cards are paid off every month - no exceptions. The money sits in the bank until it's time to pay the bills. Also easy to see where your money is going every month.

 

[secretpantssam]

I do this with my Disney Visa. I do all of it online. So sometimes, when I charge stuff I just go home and pay it off. Or I wait until a few days before the bill is due and pay off the whole balance.

 

[mommy2allyandaveri]

This is what I do for my Disney Visa as well. I pay:

Cell phone bill
Water bill
TV/internet bill
Phone bill
Car insurance
Car registration

As soon as I charge it I send a pmt immediately to my credit card.

 

[peggster]

I charge most of my purchases and monthly bills (telephone, electric, etc.) to my credit card to earn frequent flyer miles, and pay it off monthly so there are no interest charges. What I do to make sure I have enough money in my account to cover the charges is to enter each charge in my check register. That way all the charges are accounted for and I'm not surprised by a big credit card bill at the end of the month. Hope that helps!

 

[JoanneNC]

I try and only use 1 card - AMEX BLUE - great cash back rewards and I pay online at the end of every month and right again after my statement cycle closes -no interest

I do use the Disney Visa for just that Disney trips but while I would love to have a high balance on a Disney rewards card - AMEX is just better in their rewards

 

[hrh_disney_queen]

When you get your statement, send in a check for the full amount charged by the due date. This is how you avoid interest. They only charge interest on what you don't pay each month. We pay our credit cards in full each month. Yes to earn points...but it's also a good protection tool. I'd rather someone steal my credit card than debit or cash....I can always get the account credited for the items I didn't buy. This does happen every once in awhile...then you cancel card and get a new one.

On our CCs, this is not true. If you don't pay off the entire amount on the bill, you will be charged interest on the ENTIRE amount of the bill. In 22 years, we have been charging everything, and paying the entire amount off. We have never made a "monthly" payment.

 

[NeverlandClub23]

Everytime I charge something on my Disney Visa (yay 1% ) I send the money from my checking to my ING savings account. That way I can earn some interest until the bill is due

 

[jessrose18]

Thanks for the advice everyone!! I didn't know about charging bills, so thank you for that. I looked and I already switched my cable bill to cc payment. My discover card gets 1 mile for every dollar spent but the miles can be turned in for $100 for travel purchases every 10,000 miles. So you can use the 100 bucks towards hotel, car, flights etc, doesnt' have to be an airline ticket. I also have disney visa and i figured the rate at which the disney dollars accumulate is the same, so we will use discover, the points are more univeral to redeem. ......again thanks for the help, now if only i could charge my house payment for miles ..he. he..he kidding

 

[duffy]

I have the Starwood AMEX, and I use it to pay for just about everything. I get one point for every dollar I spend. I was a bad girl and charged a good bit at Christmas, and had an unexpected expense that we put on the AMEX, so I probably can't pay it off this month, and will have to wait until my first paycheck in March to have a $0 balance again.

The nice thing about the Starwood AMEX is, I have enough points for one free night at the Swan on our trip this Nov. We booked with the 40% off PIN, and booked 11/29-12/5. We really wanted to stay another night at the beginning of our stay, and if we stay at the Swan, it will be free! So we'll be there for one night, then switch to Port Orleans Riverside.

 

[srwarden1928]

Just pay it by the due date--no interest and rack up the cashback.

 

[disney1990]

I pay our Disney Visa off online as soon as the statement is posted -- no interest and I get the reward dollars.

 

[paladin]

I also put everything possible on my credit card to get rewards. I also pay online and get my statement online.

I pay throughout the month (I go online everyday to check purchases and watch for fraud) and pay when I feel like it (as long as I pay before the due date).

 

[mskayjay]

We do this and have done this for more years than I can remember. In fact, we put both kids through college by charging the tuition/room board/fees to the cc and then paying it off. I mean really, if you're just going to write the check, put it on a cc, get the points, and then pay it off next month. And what do you get for it?????

See my ticker????? We had an 8 night, 9 day trip to WDW with a stay at WL with the free dining and we paid........nothing for it! It was just fabulous. It was like a "good job for educating your kids" and "happy anny" to boot!