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KodiakRS posted:Last month I moved and between moving expenses, normal usage, and buying a bunch of new furniture I ended up putting about $16,000 onto a credit card. As always I paid the card down to zero within a few days. I just went to check my credit report and both equifax and TU are showing a 90 point drop (~800->710) due to $16,000 of credit card debt. I was under the impression that credit card usage wouldn't really effect my credit score so long as the balance never made it onto a bill. Assuming I continue my policy of never carrying a balance on that, or any other, card how long will it take my score to recover? Did you hold that balance long enough for it to show up on your monthly statement? That's where they get their intel from. So your score should bounce back after the next statement cycle.
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May 1, 2024 21:27
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| # ? May 5, 2024 06:37 |
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It looks like that's what happened, I guess it took a day or two to reflect my payment and during that period they took the balance for my monthly bill. Oh well, I get $16,000 worth of credit card rewards and wasn't planning on getting a loan anytime soon anyway.
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May 2, 2024 00:27
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It will self correct next month, don't worry about it.
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May 2, 2024 00:46
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If my credit card statement is posted on 2nd of the month and payment is due on the 27th, when is the ideal date to pay it off? Does it matter?
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May 3, 2024 03:23
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Lester Shy posted:If my credit card statement is posted on 2nd of the month and payment is due on the 27th, when is the ideal date to pay it off? Does it matter? I do not think there is an ideal time, just on time, preferably paid in full. Out of sight out of mind is always the way I think about it. I like paying on the day it’s posted because it gives me a better overview for the month. My checking and credit card is through the same company, so when I pay it is reflected instantly.
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May 3, 2024 03:34
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Lester Shy posted:If my credit card statement is posted on 2nd of the month and payment is due on the 27th, when is the ideal date to pay it off? Does it matter? I autopay mine on the due date because why pay any earlier when i am earning interest on my cash
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May 3, 2024 04:26
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The objectively ideal time to pay it off would be on the due date so that you can continue to accrue interest on your cash. Keep in mind that $1000 in a 5% APY account is only like $4/month that you need to pay taxes on so it's more like $3. If you're one of those people who somehow want to min/max your credit score for reasons (it literally doesn't matter, outside of some select cases) then the ideal time for that would be before the date your credit card reports your balance to the credit agencies. You can find this date on your credit reports (the balance last updated date). Again, this literally doesn't matter for 99% of the time. If you're bad with money and are using your credit card wrong (as in buying stuff you don't actually have money for) the better time to pay it is probably ASAP.
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May 3, 2024 13:39
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i generally like paying off the cards on autopay a bit early in case something fucks up due to my idiot moron bank schwab brokerage: good schwab retail banking: god awful
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May 3, 2024 13:54
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KYOON GRIFFEY JR posted:i generally like paying off the cards on autopay a bit early in case something fucks up due to my idiot moron bank Oh yeah I have autopay set up but I always just do a manual payment around the time I pay rent too. I don't like that autopay seems to default to (only able to?) pay on the due date and I'm paranoid something goes wrong and it's a long holiday weekend and the banks are closed.
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May 3, 2024 18:55
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Boris Galerkin posted:Oh yeah I have autopay set up but I always just do a manual payment around the time I pay rent too. I don't like that autopay seems to default to (only able to?) pay on the due date and I'm paranoid something goes wrong and it's a long holiday weekend and the banks are closed. gently caress, the autopay for my mortgage is like 5 days after the "due by" date they tell me. They said that's how it would be when I set it up and it's been without extra fees or anything, just how their system works.
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May 3, 2024 19:14
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My mortgage has 15 day grace period after the due date before a payment is considered late. So... that's the actual due date I guess? IDK I still pay it on the written due date. Try that with your apartment landlord and see how it goes.
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May 3, 2024 19:21
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Guinness posted:My mortgage has 15 day grace period after the due date before a payment is considered late. So... that's the actual due date I guess? IDK I still pay it on the written due date. Also check your state laws for that, too. Rent grace period is sometimes codified.
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May 3, 2024 20:29
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KYOON GRIFFEY JR posted:i generally like paying off the cards on autopay a bit early in case something fucks up due to chaos This is me as well. If something is wrong anywhere in the system I want a few days to repair it. Unexpectedly high balance? Low checking account balance? Fraud on either? Computers are terrible? Banks are terrible? It's one fewer thing to unwind, and fraud against my checking account isn't the credit card issuers fault so could be a hassle to unwind.
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May 3, 2024 20:39
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Sundae posted:Also check your state laws for that, too. Rent grace period is sometimes codified. Check your lease too.
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May 3, 2024 21:07
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| # ? May 5, 2024 06:37 |
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In California your lease grace period is in your contract, the default (I think?) is 5 calendar days and then (by state law) 5 business days after that they can begin pre-eviction proceedings by physically posting a "pay or quit" notice on your door. That's probably not 100% correct but pretty close Rent stuff is going to vary by city/county/state, and if you're rent controlled there's probably additional carve outs for that. First step is check your contract tho
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May 3, 2024 22:13
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