Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!


Posted in Credit Cards
Profile Image

Question By

0 Contributions
0 People Helped
Can I use my credit card to get points but pay it off each month to avoid interest?
I would like to use my card to get the cash back, chase freedom, but want to avoid paying interest on the card. Unfortunately, I don't know what is used to calculate the points on the card. I've been using my card regularly to take advantage on the 1% cash back on all purchases and then paying off the balance as soon as they post my "min payment due". It looks like i'm still getting small interest charges and my points aren't going up as fast as i would expect. Does anyone know how/when interest is calculated as well as the credit card points? are they calculated off each transaction? the balance at the end of the month? the week?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
497 Contributions
1201 People Helped

You don't lose the points if you decide to pay the balance in full each month. Points and interest are compounded at the end of each statement and will be updated on your most recent statement. To avoid interest pay off the balance and keep it at $0 on the statement end date (usually 2-3 days after the due date).

1 Contribution
0 People Helped

I do the same, but it backlashes on me

I get really confused on this too, I am the same way as, I use my credit cards to earn points that = cash back.  I pay my cards if not off completely, then at least leave a balance of less than 30% on them.  There is obviously a difference between the "due date" and the date the company reports to the credit bureaus.  I read somewhere that it is the statement date?  Then why do they have a different due date?  Also, when a company reports to the bureaus, sometimes the bureaus don't automatically update a person credit score right away.  It is almost as if these companies work with the credit bureaus to keep the credit score down on purpose.

And why such a huge variance between on bureau and another?  Then is usually better than all of of them, but loaning companies seem to pick the lowest score?

If it is (an example)  June 4th 2014, I use my visa for a purchase of 145.00, and I know that I just paid my balence on the 1st, the due date isn't until the 20th, the statement comes out on the 15th, yet the visa company send in a negative report because I have a balance of 145.00 on the 28th?  Yet, I have already paid the statement for the month of June?   I don't know if I am making any sense because as I said, I am very confused.

We are trying really hard to get our scores up to purchase a house, I have a visa that was paid in full last month, it is due on the 28th, I have talked with them about changing the due date to the first, I will be paying the full amount on the first, but today it was posted that I am over utilizing my credit cards by maxing them out?  I just want the points for the cash back.  

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.


Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.