So a couple years ago, an emergency happened and I had no EF. I ended up with about 5k in CC debt. It is on a Discover IT card. I’m better at managing money, but I simply don’t have the funds to pay the whole balance off right now. I hate it, but I’m working on it.
My question is, the rewards on that card are great. Is there any point to charging new purchases on the card that match the cash back categories, paying 100% of those off each month in addition to my debt payment? Using the cash back as a little extra towards the statement balance? Since I would be paying the new purchases off, would they avoid the interest? I know there is the statement period before new interest is charged right?
P.S. yes I am fully aware the old balance will still be accruing interest, but if the new purchases avoid it, wouldn’t that be extra money or no? Does this make sense?
Submitted April 02, 2019 at 10:04AM by Nerdboxer https://ift.tt/2FTDSna
