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I Should, But I Didn't

May 18th, 2015 at 12:49 pm

I have just over $1000 from this past payday that I should have sent in to our Citi credit card balance. It would have brought the balance to around $500. But I didn't do it.

We have a rather large repair coming up on the home before we can close on our home. It was definitely unexpected on this new home, but it may cost us $1500 to $2000. And I'm not sure they take credit cards. So in an effort to have enough cash on hand that I don't have to move from another account I'm holding on to this cash.

I'd really, really like to pay it on the credit card, and maybe I still will.

Posted in Spending, Debt | 9 Comments »

9 Responses to “I Should, But I Didn't”

  1. laura/deacon's wife Says:
    May 18th, 2015 at 12:57 pm 1431953870
    1431953870


    Sounds like a good plan. You can always send off the balance of what you have to the credit card after the repair. We need to have the drywall repaired now that the plumbing issue is fixed. We're having them quote it with just the immediate stuff and then a few other issues. We know how much we can comfortably spend without touching the funds for the home study ($2,500) and not touching the credit card either. Good luck! Wise choice, IMO.

  2. snafu Says:
    May 18th, 2015 at 02:31 pm 1431959463
    1431959463

    I'm presuming Citi CC is 0% interest going forward but would ask the service provider if there was a discount for cash. [They pay 3-4% to credit card provider] I'm more comfortable putting these expenses on CC for the record, the back up provided by CC if there is a need for intervention and if it is a possible income tax deduction since it was required to sell the house for a move required by employment. How disappointing to learn a new build has a flaw. CCF, is there any possibility that any of the product and/or repair cost could be rebated by the builder or new house warranty program?

    I'm surprised by your reluctance to move sums from one account to another. I've found it merely takes a few strokes of the keyboard to move money from accounts from different financial institutions or even to other countries although in that case there is a transaction fee over and above the cost of exchange.

  3. creditcardfree Says:
    May 18th, 2015 at 02:43 pm 1431960188
    1431960188

    @snafu, yes the Citi card is at 0% otherwise no balance would be there at all. Yes, moving money is easy, but why do it if I have the cash? We can only move money a few times a month.

    We have one repair that the original company MAY remedy since it's their work that is shoddy. I will find that out today hopefully. Warranty with the builder was for 1 year, which of course has past. These are things that didn't come up during our inspection otherwise we would have been after him to rectify. And those we did took forever to get him to take care of. It would be a really, really long shot to get him to cooperate. Ironically, the buyer previous home was built by this same builder...so I'm sure they aren't super surprised at some of the issues that came up.

    It's all going to be fine. I just need the cash that is in our account to be available to pay this big repair. I might as well hold it since the credit card is still at 0%.

  4. My English Castle Says:
    May 18th, 2015 at 03:07 pm 1431961653
    1431961653

    I guess it doesn't matter if you're not paying interest on it. Good luck getting the builder to move on it.

  5. creditcardfree Says:
    May 18th, 2015 at 03:11 pm 1431961873
    1431961873

    The builder IS not getting involved. It will only delay things. I do know who some of the contractors he used were, so they are getting called.

  6. SecretarySaving Says:
    May 18th, 2015 at 04:18 pm 1431965914
    1431965914

    Good luck with the house repairs!

  7. snafu Says:
    May 18th, 2015 at 07:45 pm 1431978314
    1431978314

    just in case it's useful...If the builder is a member of your Better Business Burea and still in business in your community, I've been fairly successful in phoning and following up via e-mail to offer 'a head's up' to provider of shoddy product or work. I explain my plan to e-mail the Better Business Bureau, my Facebook group, Yelp and a couple of local Consumer's sites to express my disappointment with the product/service in 10 days. If possible I include a photo. I have an outline of what I see as a flexible, reasonable resolution of the issue if someone responds. If not it's fast and easy to send off the photo and complaint to various sites.

    The Better Business Bureau usually takes action quickly and your information is truly helpful for others considering buying this operator's new builds.

  8. creditcardfree Says:
    May 18th, 2015 at 07:49 pm 1431978547
    1431978547

    The good news is the contractor I called today will remedy their item on the buyer's list. Thanks snafu...probably a good idea. Smile

  9. FrugalTexan75 Says:
    May 19th, 2015 at 12:56 am 1431996978
    1431996978

    That is good news!

    I would imagine when selling/buying a house / moving it is a good idea to keep as much cash on hand until everything settles.

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