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pyknosis
Nov 23, 2007

Young Orc

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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KodiakRS
Jul 11, 2012

:stonk:
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.

SlapActionJackson
Jul 27, 2006

It will self correct next month, don't worry about it.

Lester Shy
May 1, 2002

Goodness no, now that wouldn't do at all!
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?

obi_ant
Apr 8, 2005

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.

drk
Jan 16, 2005

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

Boris Galerkin
Dec 17, 2011

I don't understand why I can't harass people online. Seriously, somebody please explain why I shouldn't be allowed to stalk others on social media!
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.

KYOON GRIFFEY JR
Apr 12, 2010



Runner-up, TRP Sack Race 2021/22
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

Boris Galerkin
Dec 17, 2011

I don't understand why I can't harass people online. Seriously, somebody please explain why I shouldn't be allowed to stalk others on social media!

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

schwab brokerage: good
schwab retail banking: god awful

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.

Uthor
Jul 9, 2006

Gummy Bear Heaven ... It's where I go when the world is too mean.

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.

Guinness
Sep 15, 2004

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.

Sundae
Dec 1, 2005

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.

Try that with your apartment landlord and see how it goes.

Also check your state laws for that, too. Rent grace period is sometimes codified.

H110Hawk
Dec 28, 2006

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.

ultrafilter
Aug 23, 2007

It's okay if you have any questions.


Sundae posted:

Also check your state laws for that, too. Rent grace period is sometimes codified.

Check your lease too.

Hadlock
Nov 9, 2004

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

Uthor
Jul 9, 2006

Gummy Bear Heaven ... It's where I go when the world is too mean.

H110Hawk posted:

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.

I ended up setting mine up to pay at least the minimum amount on the due date.

After years of getting the statement in the mail and setting up a reminder on my calendar, I somehow clicked a button to not send me paper statements and didn't notice that I didn't get the bill for that month and had to pay the late fees.

H110Hawk
Dec 28, 2006

Uthor posted:

I ended up setting mine up to pay at least the minimum amount on the due date.

After years of getting the statement in the mail and setting up a reminder on my calendar, I somehow clicked a button to not send me paper statements and didn't notice that I didn't get the bill for that month and had to pay the late fees.

Did you complain to them? Often those clicks are very deceiving. But yes, no matter what everyone should set at the absolute least setup autopay to the minimum balance to avoid the late fees and penalties if they're going to insist on manually paying the rest.

Uthor
Jul 9, 2006

Gummy Bear Heaven ... It's where I go when the world is too mean.
No, I wish I thought of. But I was also going through some medical poo poo at the time and probably wouldn't have done so, anyway.

Neurostorm
Sep 2, 2011
Is there a consensus on the best budgeting apps? I have a subscription to simplifi right now which works alright, but was wondering if there are any better options.

DoubleT2172
Sep 24, 2007

I've been using YNAB for more than a few years and loved it. They have put a premium pricing on it but I find it to be worth it for what it provides. There is a thread on it

Neurostorm
Sep 2, 2011

DoubleT2172 posted:

I've been using YNAB for more than a few years and loved it. They have put a premium pricing on it but I find it to be worth it for what it provides. There is a thread on it

Yeah, I probably should have mentioned that I had tried YNAB several years back and found it to be a bit clunky and unintuitive, but maybe I'll give the free trial another chance. $100 a year is $60 more than I'm paying now, which feels like a little much. But I'll try it and if it ends up working well I'll go with that.

dpkg chopra
Jun 9, 2007

Fast Food Fight

Grimey Drawer
Right now my spouse and I have separate healthcare plans via each of our employers.

If I quit my job does that enable her to add me to her plan even after the enrollment period has closed?

Guinness
Sep 15, 2004

Typically yes, a change of spouse’s job should count as a “life event”. But confirm with her HR/benefits person before committing to it!

daslog
Dec 10, 2008

#essereFerrari

dpkg chopra posted:

Right now my spouse and I have separate healthcare plans via each of our employers.

If I quit my job does that enable her to add me to her plan even after the enrollment period has closed?

Once you lose your current coverage it opens a window for your spouse to add you and make limited changes.

silvergoose
Mar 18, 2006

IT IS SAID THE TEARS OF THE BWEENIX CAN HEAL ALL WOUNDS




Usually called something like "life event", it'll be described somewhere in their coverage documents.

KYOON GRIFFEY JR
Apr 12, 2010



Runner-up, TRP Sack Race 2021/22
Qualifying Life Event is the standard term, I believe

https://www.healthcare.gov/glossary/qualifying-life-event/

dpkg chopra
Jun 9, 2007

Fast Food Fight

Grimey Drawer
Thanks, I knew about QLEs but I wasn’t sure if quitting qualified or if I had to be fired.

The practical scenario is that I might be quitting soon to take a contract role (it’s a risky move I know, but the hourly would be double what I make now on salary) and the role and company would help my CV immensely).

In theory I can purchase coverage from the company, but it seems to me to make more sense to be on my wife’s plan? She has good coverage and the additional monthly is not too bad.

Baddog
May 12, 2001
Quitting counts. I quit and did consulting/contract work for awhile under my wife's insurance. Good money. Good luck!

tumblr hype man
Jul 29, 2008

nice meltdown
Slippery Tilde
Woah moving to a different zip code counts, wild.

Serious_Cyclone
Oct 25, 2017

I appreciate your patience, this is a tricky maneuver

dpkg chopra posted:

In theory I can purchase coverage from the company, but it seems to me to make more sense to be on my wife’s plan? She has good coverage and the additional monthly is not too bad.

I did this when I jumped jobs a while back, the new company had awful insurance so I +1'd onto my wife's plan at the time.

dpkg chopra
Jun 9, 2007

Fast Food Fight

Grimey Drawer
Thanks for the confirmation everyone, good to know that it’s a possibility.

Democratic Pirate
Feb 17, 2010

My company charges more if a spouse is declining their employer’s coverage in favor of ours. I don’t recall the exact increase but it was enough to keep us on different plans.

spwrozek
Sep 4, 2006

Sail when it's windy

Democratic Pirate posted:

My company charges more if a spouse is declining their employer’s coverage in favor of ours. I don’t recall the exact increase but it was enough to keep us on different plans.

$100/mo surcharge where I work. plus the increase in premiums and deductible.

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MrLogan
Feb 4, 2004

Ask me about Derek Carr's stolen MVP awards, those dastardly refs, and, oh yeah, having the absolute worst fucking gimmick in The Football Funhouse.
My wife's health insurance plan is awful, so we have everyone on my plan.

Our Bronze/Silver/Gold HDHP don't make any sense. The math works out that you pay roughly the same amount for the monthly + out of pocket limit for all the plans. You end up saving a couple hundred dollars if you hit the max out of pocket for the Gold plan versus max for Bronze.

If you don't hit the out of pocket limits then you end up saving a ton using Bronze since the monthly premiums are so much less.

I haven't figured out if this is to take advantage of people who are bad at math or if they just want to push people towards the Bronze since it probably costs the company a lot less.

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