Can I do this?

[Anonymous]

Odd question.

Our CC bill is due the 1st every month.

We average around $3k a month in expenses (we pay off every month)

Next month May we are having our roof replaced and it will be $12k. We are shocked to learn they accept CC so we will be paying that way for points. But, in June we will be vacationing and will owe about $5k for the hotel, plus more for car rental and incidentals, on top of our usual $3k in expenses. This will take us over our CC limit.

If I pay the usual $3kish bill on June 1 plus the $12k that technically won’t be due until JULY 1, will that cause issues with anything? I hope my question makes sense.

[Anonymous]

What is your cc limit? Not sure about the timing, but it would do you good to charge the roof, assuming you can pay it off in full - most likely the cc co. will increase your limit.

[Anonymous]

Anonymous wrote:Odd question.

Our CC bill is due the 1st every month.

We average around $3k a month in expenses (we pay off every month)

Next month May we are having our roof replaced and it will be $12k. We are shocked to learn they accept CC so we will be paying that way for points. But, in June we will be vacationing and will owe about $5k for the hotel, plus more for car rental and incidentals, on top of our usual $3k in expenses. This will take us over our CC limit.

If I pay the usual $3kish bill on June 1 plus the $12k that technically won’t be due until JULY 1, will that cause issues with anything? I hope my question makes sense.

You should see if you roofer will accept hard cash. Assuming you have cash some offer up to 6% discount which maybe worth much more than any credit card points you rack up. BTW I have done this in past with legit contractors and have received formal business receipts of cash payments. So it's legit.

[Anonymous]

You can also get your credit limit increased. Most CC companies have an online function for this. I did this last summer when we were replacing out HVAC so I could use my cash back credit card. That may be the easiest thing to do.

[Anonymous]

Not sure what your relationship is like with your cc company (credit limit, history, etc.), but my husband and I both changed jobs last month and took a few weeks off - meaning that we are basically going two pay periods without a paycheck in April. Instead of using up a big part of our emergency fund, we just called our cc company and asked if we could pay our card a month later than normal without penalty or interest, and they said yes given the circumstances.

They have done this once before. Yesterday the customer service agent told my husband that, when it comes to credit cards, it's better to ask permission than forgiveness.

[Anonymous]

You can also pay the balance early if you are concerned about hitting your limit

[Anonymous]

PP here - sorry I completely misunderstood the question. You will be completely find if you pay off the 12k early and then proceed to charge more in June. The credit limit is not a "monthly spend" limit - it is the limit of credit that you can have at any one time.

[Anonymous]

No you can always pay off a balance early to make room for new charges.

[Anonymous]

I always pay huge cc charges the minute they post -- I hate seeing the bill get massive.

I would pay off the $12K the minute it shows up on your account.