dirtbiker
Full time employment: Posting here.
- Joined
- Apr 11, 2019
- Messages
- 630
I have recently decided to transition all of my automatic bill payments, monthly spending, etc. to my credit card and then pay the balance off each month. Excluding my mortgage (which won't let me pay with a card), this will come out to about $80,000 per year, which will net me about $1000 cash back, or more if I use it for travel.
My mortgage costs me $26400 per year, which would add an extra $300 cash back to my yearly CC total. Since I can't pay with a card, I could withdrawal cash from my CC and then deposit that into my bank to pay the mortgage, and then just pay off the entire balance each month... And with this in mind, why not max out my cash allowance every month, put it into my bank, and use this to pay the balance, and really rack up CC points for travel?
Anyone else do this? Any issues? I'm assuming this is perfectly legal? I can't see why not.
My mortgage costs me $26400 per year, which would add an extra $300 cash back to my yearly CC total. Since I can't pay with a card, I could withdrawal cash from my CC and then deposit that into my bank to pay the mortgage, and then just pay off the entire balance each month... And with this in mind, why not max out my cash allowance every month, put it into my bank, and use this to pay the balance, and really rack up CC points for travel?
Anyone else do this? Any issues? I'm assuming this is perfectly legal? I can't see why not.