I've had my credit card for 5 years now with a max amount of 20k. My minimum payment has always been $0.00 since I always pay my CURRENT balance every first of the month and never the statement. I use the credit care because of that cash back awards 2.5% back on everything. Because of this, my credit score has stayed at 825.
This year will be having lots of purchases from acquiring a new home buying new appliances, remodel, and pet surgery with a total of spending $14,000 this month.
Now aside from my checking account, I have $20k in my savings account specifically to pay off my credit card if I ever get put on a rough spot, but I have a stupid ocd that always want to see it at $20k at all times. It's been like that for 10 years.
Now is it wise to finally start just paying off the statement balance instead(only for this year) because of upcoming big purchases? I won't get charged credit card interest rates if I just pay off the statement balance before the due date if I'm correct right? Don't make fun of me for that question. Or should I just pay out everything in full of $14k? I'm hesitant because I've never made a transaction that big before.
Posted by ily300099