Keeping a running balance on credit cards?

[Brainonska511]

I really don't understand what you mean by "running balance". Just pay it off in full when you get your statement, before the due date of the payment.

 

[sze5003]

I really don't understand what you mean by "running balance". Just pay it off in full when you get your statement, before the due date of the payment.

Running balance is the current balance. It will always be greater than your statement balance if you are using it as a debit.

What is the highest cash back anyone has got in terms of percentage?

 

[Schfifty Five]

I did away with debit cards and only have an atm card for this very reason. I have two credit cards and use one for monthly recurring payments (cable, electricity, Netflix, etc) and the other for purchases. Generally put 5-15% on and pay in full each month. fico is 780 and I imagine it would be better if I didn't have 355k in student loan debt and a 56k salary.

Aren't ATM cards the same things as debit cards?

Or does your ATM card only allow you to withdraw money from ATMs?

 

[Schfifty Five]

Running balance is the current balance. It will always be greater than your statement balance if you are using it as a debit.

What is the highest cash back anyone has got in terms of percentage?

Depends, are you talking about early 2000? Or recently lol.

B/c back then it was like 5% on everything, sometimes higher. Today, it's 1% across the board with up to 5% on rotating categories for most CCs.

 

[sze5003]

Depends, are you talking about early 2000? Or recently lol.

B/c back then it was like 5% on everything, sometimes higher. Today, it's 1% across the board with up to 5% on rotating categories for most CCs.

Yea I remember a while ago 5% was a good one. Now it's 1% on everything and 5 on categories. Does the Amazon visa card also give you 1% or is it only for Amazon purchases. I have a high limit on that card.

 

[sze5003]

Aren't ATM cards the same things as debit cards?

Or does your ATM card only allow you to withdraw money from ATMs?

My bank gave me the option after reporting fraud to give me just a MAC card. With this you are only able to get money out from the atm.

Most banks now give you a visa debit which allows taking money out from the atm as well as using it as a visa credit or debit with pin to make purchases anywhere. I suppose this is how my number was hacked.

 

[Schfifty Five]

Yea I remember a while ago 5% was a good one. Now it's 1% on everything and 5 on categories. Does the Amazon visa card also give you 1% or is it only for Amazon purchases. I have a high limit on that card.

Google is your friend.

But in a nutshell, amazon cc gives you 1% on everything, 2% on certain things, and 3% on purchases made on amazon.

 

[sze5003]

Yea I'll just use the Amazon card as well. I tend to buy a lot of stuff on Amazon from time to time.

 

[TheVrolok]

Aren't ATM cards the same things as debit cards?

Or does your ATM card only allow you to withdraw money from ATMs?

The default is to give a "Debit Card" which is, generally the default issued card. I had to go "opt out" and shred my Debit Card in exchange for an issued ATM card which only allows me to withdrawal money and not make purchases.

 

[stlc8tr]

Running balance is the current balance. It will always be greater than your statement balance if you are using it as a debit.

What is the highest cash back anyone has got in terms of percentage?

Fidelity is 2% on Amex. Their Visa is 1.5% up to $15K and then 2% afterwards.

Blue Cash is 6% on groceries (3% on gas but they have an annual fee so you better buy a lot of groceries). BoFA is also 3% on gas (no annual fee) but in addition, they have 10% back sometimes for select online retailers (like TigerDirect).

Lots of rotating 5% category cards too like Discover and Chase Freedom.

There are a bunch of rewards cards but these cards are what I've been using. There are probably a gazillion threads on rewards CCs at FW and SD.

 

[PlanetJosh]

It's around $500 I leave on a BofA Visa each month, on a $7,000 limit. It's my entire debt, no car loan or any other debt. Spoiled by my parents to this day in my 50's.

 

[MongGrel]

I usually pay them off as fast as possible and not use them at all, but have one I need to pay off soon.

Paying someone else to use their money is always a bad idea instead of the other way around.

 

[sze5003]

I usually pay them off as fast as possible and not use them at all, but have one I need to pay off soon.

Paying someone else to use their money is always a bad idea instead of the other way around.

Well if you pay it off every month you shouldn't be charged interest. It's better to use someone else's money than to have yours stolen and have to wait weeks while it gets sorted out while there are bills and stuff coming at you.