US BankCash+ Q

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5 posts
icewater
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Location: salt lake city/utah

US BankCash+ Q

Postby icewater » Tue Jan 01, 2013 11:32 pm

So I am fairly new with credit and am trying to juggle my cards (monthly bills on cash+, gas on PenFed, use rotating on Discover and Chase Freedom, etc) and I believe I made a mistake. I placed my car insurance on the cash+ paid in full to save some money over paying monthly. The mistake I made was this card has no 0% intro rate, so right off the bat I will be paying 18.99% if I leave a balance.

Which I wasn't going to do for my regular monthly bills but I had planned on paying this bill monthly over 6 months. Well, if I do that I will negate any savings I would have had.

So, my question is what would happen if I balance transferred that amount over to my Chase Freedom which has 0% for 14 months? I do not want to anger my cash+ especially within my first month of having it. I def want to keep them and use it going forward. How does doing a balance transfer look to them so early in the game? Is it worth it to save 50 bucks?

What would you do? Just forget about it and pay the extra 50 bucks or balance transfer and risk angering or at least getting some sort of "black mark" on a card you want to have a long lasting relationship with?
In My Wallet
American Express True Earnings (($2,000)) Aug '12
Chase Freedom Visa (($3,000)) Dec '12
Discover More (($3,000)) Dec '12
PenFed Platinum Cash Rewards (($7,000)) Dec '12
Amex Blue Cash Everyday (($3,500)) Dec '12
U.S. Bank Cash Plus (($10,500)) Dec '12


cashback
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Location: NY

Postby cashback » Tue Jan 01, 2013 11:41 pm

I would do anything I could to pay in full (maybe a good old interest free loan from mom and dad). If that's not possible, I would just chalk it up to a lesson learned and pay it off as fast as I could. Doing a balance transfer to save $50 just doesn't seem worth the headache to me and if I'm not mistaken, there are fees that go along with balance transfers.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

MemberSince99
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Location: WI

Postby MemberSince99 » Wed Jan 02, 2013 6:49 am

If you were a corporation you'd do the math and do whatever made you the most $$$, regardless if it's a penny.

But in this case as cashback said there will be fees and so on, what's wrong with paying in full? You could lose your job or income and have a balance that starts charging interest. This way you don't have to worry. I say you're in good shape.

DavidNY
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Location: New York

Postby DavidNY » Wed Jan 02, 2013 10:11 am

icewater wrote:what would happen if I balance transferred that amount over to my Chase Freedom which has 0% for 14 months? I do not want to anger my cash+


You could BT from the Freedom, there's probably a 3% fee on the amount. If you can pay off US Bank within two months do so, if it will take longer than two months to pay then the BT would save you some money.

Cards are things, not people, so they don't get angry. US Bank doesn't care where the payment comes from, as long as they get paid.

icewater
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Joined: Sat Nov 17, 2012 1:06 pm
Location: salt lake city/utah

Postby icewater » Wed Jan 02, 2013 10:59 am

I forgot about the BT fees. That comes to $17. So doing the BT will only save me $37. I guess I will just chalk it up to a mistake and pay the interest.

The total for 6 months insurance is $574 and I guess I could pay it off if I move some things around, it's just that I bought a vehicle this month and along with Xmas shopping, I was not prepared to pay this off too.

And I know the cards don't get angry, I just have never done a BT before and wanted to know if the people at the bank I am BT'ing FROM considers it a negative, especially when I go to do CLI or other banking with that institution.
In My Wallet
American Express True Earnings (($2,000)) Aug '12
Chase Freedom Visa (($3,000)) Dec '12
Discover More (($3,000)) Dec '12
PenFed Platinum Cash Rewards (($7,000)) Dec '12
Amex Blue Cash Everyday (($3,500)) Dec '12
U.S. Bank Cash Plus (($10,500)) Dec '12



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