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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 18, 2024 15:03 |
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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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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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? 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.
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# ? May 5, 2024 14:58 |
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Uthor posted:I ended up setting mine up to pay at least the minimum amount on the due date. 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.
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# ? May 5, 2024 15:03 |
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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.
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# ? May 5, 2024 15:46 |
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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.
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# ? May 5, 2024 20:04 |
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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
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# ? May 5, 2024 20:08 |
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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.
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# ? May 5, 2024 20:19 |
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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?
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# ? May 7, 2024 16:37 |
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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!
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# ? May 7, 2024 16:54 |
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dpkg chopra posted:Right now my spouse and I have separate healthcare plans via each of our employers. Once you lose your current coverage it opens a window for your spouse to add you and make limited changes.
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# ? May 7, 2024 19:17 |
Usually called something like "life event", it'll be described somewhere in their coverage documents.
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# ? May 7, 2024 19:33 |
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Qualifying Life Event is the standard term, I believe https://www.healthcare.gov/glossary/qualifying-life-event/
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# ? May 7, 2024 19:45 |
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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.
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# ? May 7, 2024 19:55 |
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Quitting counts. I quit and did consulting/contract work for awhile under my wife's insurance. Good money. Good luck!
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# ? May 7, 2024 20:03 |
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Woah moving to a different zip code counts, wild.
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# ? May 8, 2024 01:40 |
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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.
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# ? May 8, 2024 03:50 |
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Thanks for the confirmation everyone, good to know that it’s a possibility.
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# ? May 8, 2024 04:33 |
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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.
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# ? May 8, 2024 05:58 |
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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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# ? May 8, 2024 19:41 |
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# ? May 18, 2024 15:03 |
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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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# ? May 9, 2024 14:44 |