Personal Finance 30-Day Challenge #2: Check your percentages! (February, 2019) |
- 30-Day Challenge #2: Check your percentages! (February, 2019)
- Weekend Discussion and Victory Thread for the week of February 01, 2019
- My co-worker TURNED DOWN a $2000.00 bonus because it put him into the next tax bracket
- Is it worth it to begin investing $200 a month as a 24 year old?
- After 5 months, BANK OF AMERICA refused to refund $4,500 that was fraudulently withdrawn from my account at a branch teller
- All of this talk about marginal tax brackets is making me curious about something
- Accidentally found out coworker with same job has significantly higher salary than myself.
- Beware of Store app price switching.
- Robinhood - Mint integration finally works!!!
- Should I look into debt consolidation services?
- Sell your ESPP right away? Make sure you aren't being double-taxed by adjusting your cost basis from 1099-B
- I was gifted $12k and now I'm receiving a 1099
- Should I partially pay off a high interest large loan or completely pay off a low interest small loan?
- Employer "gifted" my child $5k instead of paying me directly. What are the tax implications for me?
- Reddit ads overcharged me (and others) by triple and continues to charge me even though I shut it off. I'm trying to resolve the issue, but is it possible to do a chargeback if I used a debit card?
- Turbo Tax "Free File" and "Free"
- Selling brokered CD at a loss
- Cost of buying and owning land.
- One of those should I take a paycut for my sanity post
- $75,000 - Home sale
- 1099 Correct Way To Report Research Grant Reimbursement?
- Is this a realistic financial goal/outlook for the remainder of 2019?
- What else can I do to fight “surprise “ medical bill?
- At work, and I saw my bosses realize that an hourly employee has been working for 6 months without a 50 cent raise they were promised, losing 100s of dollars, what should they do here?
- Can I claim loss of property that was damaged/lost in a fire at a storage unit?
- Large down payment with CC
| 30-Day Challenge #2: Check your percentages! (February, 2019) Posted: 01 Feb 2019 05:09 AM PST
30-day challengesWe are pleased to continue our 30-day challenge series. Past challenges can be found here. This month's 30-day challenge is to Check your percentages! There are two different challenges this month depending on your position in the "How to handle $" list of steps.
First challengeYour challenge is to pursue improving your interest rates. You've successfully completed this challenge once you've done 2 or more of the following things:
Second challengeYour challenge is to audit your investment expenses and emergency fund. You've successfully completed this challenge once you've done 3 or more of the following things:
The idea here is that you might uncover some expenses you didn't know you were paying, which in turn might give you a reason to make a change for the better. The impact of costs on investments can be depressing. If you find a clean slate, sleep well knowing that your money is working for you first and your investment company second. Another way to sleep well is to ensure you have enough set aside for emergencies. You may have set up your emergency fund goal and met it a number of years ago and perhaps times have changed for you. It's a great time to ensure you have an appropriate amount set aside for your expenses and risk tolerance. More information on investment expenses:
Challenge success criteriaYou've successfully completed this challenge once you've done 2 or more of the items from either the first or second challenge. You may substitute an item from the extra credit if you run out of items that apply to your financial situation. Extra credit
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| Weekend Discussion and Victory Thread for the week of February 01, 2019 Posted: 01 Feb 2019 01:05 PM PST If you need help, please check the PF Wiki to see if your question might be answered there.This thread is for personal finance questions, discussions, and sharing your success stories:
A big thank you to the many PFers who take time to answer other people's questions! [link] [comments]  |
| My co-worker TURNED DOWN a $2000.00 bonus because it put him into the next tax bracket Posted: 01 Feb 2019 06:09 AM PST There has been a lot of misinformation on credible news sources regarding ways to "avoid moving into the next tax bracket". I've seen things about putting your money in a 401k, and IRA, an insurance fund. These aren't bad ideas, but they won't help you pay less taxes on the rest of your taxable income. If you live in the US, please educate yourself on the marginal tax system before listening to any of these articles. So my co-worker, snidely grinning, explained how much smarter than me he was by turning down his yearly bonus because it would have put him from a 22% tax bracket into a 24%. He even showed me the article he read that explained the tactic that only geniuses like him know about. I seriously thought he was joking at first and eventually had to say the fateful words that started the 2 hour debate: "you know that's not how it works, right?" We ended up calling his uncle, who owned 4 buy-and-hold rental properties. His aunt eventually got involved over speakerphone - They both backed him up completely and even praised him for his genius. I went on to get a CPA friend of mine on the phone and he laughed out loud for a good 30 seconds. This is the saddest part: We both Googled the matter and he was able to find almost as many articles that backed up his argument as I was able to find articles that explained reality. Toward the end of the 2 hour argument, he absolutely didn't agree with me, but I could tell he realized he'd messed up. He ended it with "lets just chalk it up to semantics...". The next morning he stopped me in the hall and thanked me for the lively debate the evening before, to which I replied "Hey I love debating, I learn something new every time I debate" (just to make him feel better), and he replied with "Well I didn't learn anything, but yeah... that was fun...". SMH [link] [comments]  |
| Is it worth it to begin investing $200 a month as a 24 year old? Posted: 01 Feb 2019 05:08 AM PST As a 24 year old in America, Chicago area just for more information, Is it worth it? Or should I just save my money until I have atleast $1,000? Any tips and all advice as to how I should invest $200 per month would be very helpful and appreciated as a beginner who wants to start planting nice seeds for the long term, as well as maybe make some money short term. Vanguard? Robinhood? Roth IRA's? Index funds? Thanks a lot for ANY help lovely people! ****edit: I should've been more clear. Of course I am going to still be saving a bit from each paycheck. I definitely will save up for an emergency fund,However I did want advice on the investing as well! [link] [comments]  |
| Posted: 01 Feb 2019 07:32 AM PST TLDR: Someone fraudulently withdrew $4,500 from my Bank of America account in person at a branch location using a card/pin that was skimmed - no photo ID was checked. I filed a police report but Bank of America automatically denied the claim. I asked them to review the video evidence but BofA refused. After several calls with BofA, they finally told me "the analyst has refused to pull the video. BofA's policy only requires video evidence be pulled for claims exceeding $5,000. There is nothing more we can do for you." Subsequently, I filed a complaint with the CFPB and Congresswoman Maloney's office, and BofA still denied the claim. Why does r/BankOfAmerica not care about "small" fraud? I'm completely shocked by the way they treat their customers (been a customer for ~10 years) and, more importantly, that they allow fraud to go unchecked. I genuinely feel like my funds are not safe with r/BankOfAmerica. They simply won't investigate this fully because it's too small. FULL EVENTS: Aug 2018 I was sitting at home and noticed a withdrawal on my Bank of America checking account for $4,500 at a branch that was ~80 blocks away from my home. I have never been to that branch and would not need to go because there is a BofA branch within a 5 minute walk of my home. Called Bank of America immediately (while it was still pending) and filed a complaint. Aug 2018 - Nov 2018 I called the check fraud department several times to ask for an update or ask if there was any other information I could provide to be helpful. They gave no update and said I should just wait because BofA has ~3 months to review the claim. No refund was provided on a conditional basis so I bore the loss the entire time (and still am bearing the loss). Nov 24 2018 (Thanksgiving weekend) I was notified that the claim was denied on the following grounds: "automatic denial because a pin and card were used." No photo ID had been checked. I explained to the check fraud department that the card/PIN was obtained via a skimmer. I asked if the video footage of the withdrawal was reviewed (because this was an in person withdrawal at a teller). The agent said they weren't sure but would request the video be pulled and the decision escalated. Agent stated it would take another ~1 month to conduct the second review of the decision. Mid December 2018 The agent tells me now (for the first time) that a police report is a critical part of the bank's investigation and would go a long way to resolve the claim. I filed a police report with the NYPD and sent Bank of America the complaint number. Jan 4, 2019 I called again because there was no follow up from BofA and was told that the claim was denied again: "automatic denial because a pin and card were used." I asked the agent if the video footage had been reviewed. She told me that the video had *NOT* been reviewed (despite my request, which was noted on the account) but that she would ask the analyst to review the footage while I waited on hold. After 5 minutes, she came back on the phone to tell me "the analyst has refused to pull the video. r/BankOfAmerica policy only requires video evidence be pulled for claims exceeding $5,000. There is nothing more we can do for you." I was stunned. Why is the policy to not fully investigate "small" fraud? Subsequently, I've done the following: - filed a claim with the CFPB - notified Congresswoman Carolyn Maloney who filed a claim on my behalf Jan 31, 2019 In response to CFPB and Congresswoman Maloney, Bank of America responds with another denial: "No bank error was identified with your claim review; therefore, we respectfully decline your request for reimbursement. We regret learning that you may have been a victim of fraud." In other words, they only reviewed their own review of the claim and determined they followed their procedures and now are acknowledging that fraud may have occurred...they just don't care. They still haven't fully investigated the fraud. What else can I do? I need to get this back. Any advice would be appreciated. Response to Comments: Hi all - appreciate the comments and thoughts so far. Figured easier to respond here
Additionally, the police have no ability to get the reimbursement. They are only responsible for catching the criminal. It is in bank of americas sole discretion to reimburse regardless of police involvement. In fact, the police relayed another Bank of America horror story to me in which they obtained photographic evidence of the fraudster and Bank of America still refused to reimburse. So they will fight you every step of the way.
Later I told the same employees what happened and they were all speechless and helped me close some accounts. Vote_4Cthulhu, I keep an account open in case this gets resolved but I honestly don't trust Bank of America to have our back. I had to move to another bank. [link] [comments]  |
| All of this talk about marginal tax brackets is making me curious about something Posted: 01 Feb 2019 09:23 AM PST I work in commissioned sales. Generally we all make about 4k-5k a month. There is a trend where people don't want to make over 5k because our taxes "go from 22% to 30%". Some people go as far as just giving up shifts on the floor if it's the last day or two of the month and they are at $4,900ish. I'm young and naive, and I havent really looked into marginal taxes until now. Does this count as an instance of us doing it wrong? I don't know if the fact we get paid monthly, or the fact we are 100% commissioned changes anything, because it sounds like we only get taxed 30% on everything we make OVER 5k [link] [comments]  |
| Accidentally found out coworker with same job has significantly higher salary than myself. Posted: 01 Feb 2019 10:15 AM PST Me (M) found out that my coworker (F) in same role as myself is making 40% higher salary than myself. I shouldn't have seen what my coworker makes, so I don't know how to approach my manager about this. I'm angry about it and I don't want to find a new job, so now sure what to do. [link] [comments]  |
| Beware of Store app price switching. Posted: 01 Feb 2019 11:34 AM PST "When you use store apps like Target's, you expect that's where you will find the best deals. After all, you're giving them access to your shopping habits and history, even your location. But what if you weren't actually getting the lowest prices on those app? In a two-month investigation, that began with a concern from a viewer, KARE 11 found Target's app changes its prices on certain items depending on if you are inside or outside of the store. For instance, Target's app prices for a particular Samsung 55-inc Smart TV was $499.99, but when we pulled into the parking lot of the Minnetonka store that price suddenly increased to $599.99 on the app." read more.... https://www.kare11.com/video/news/the-target-app-price-switch-what-you-need-to-know/89-c11c73b5-50bc-4bc1-a25d-896d58ea2742 [link] [comments]  |
| Robinhood - Mint integration finally works!!! Posted: 01 Feb 2019 07:30 AM PST I was finally able to link my robinhood account into mint.....gosh i was waiting on this piece for years now [link] [comments]  |
| Should I look into debt consolidation services? Posted: 01 Feb 2019 04:36 PM PST I am new to this subreddit but I wanted to ask a serious question: should I look into a debt consolidation service? I have 14 accounts in collections (10 of which being from various urgent care visits without insurance) and some of them are acquiring interest. I am getting threats to have my wages garnished and I know that I need to get this debt paid off ASAP. I am 24 years old and have about $10,000 in debt. I want to know if debt consolidation is a viable option or if I really need to contact each account to make payments. I know debt consolidation services can try to prey on people that don't know what they are doing and I want to be sure I don't get scammed, so any recommendations of specific services that I should use would be amazing. Thanks everyone. [link] [comments]  |
| Posted: 01 Feb 2019 06:09 PM PST Each year I sell the ESPP immediately to harvest the discount (15% off lowest of the start or end of year stock price). As it is a disqualifying distribution, the discount is reported as W2 income. However, the basis on the 1099-B I receive from brokerage does not include this amount reported as W2 income and is therefore incorrect. If you do not adjust the basis you will be double-taxed on the discount amount. To correct this, in TurboTax Deluxe I enter the 1099-B info as requested, then click the "I'll enter additional info on my own" to access the "Corrected cost basis" box. Here I enter the Fair Market Value on Purchase Date * Shares Sold (I sell them all so this is equal to # shares purchased). So for my example:
So my 1099-B reported item 2 as my basis and in TurboTax I added Item 3 as my Corrected Cost Basis. When I adjusted the basis, my tax liability was reduced by more than $900. [link] [comments]  |
| I was gifted $12k and now I'm receiving a 1099 Posted: 01 Feb 2019 07:13 AM PST Last year I was gifted $12k from my father. I was under the impression that gifts of this amount were "no strings attached" in the sense that I wouldn't have to fill out any paperwork. Come this year his company has sent me a 1099. I was under the impression he was gifting me personally and not through his company. I can see that the gift tax is $15k, but it seems that is individual to individual. I feel like something is wrong here and I clearly don't understand it. What do I do? edit: It seems there's some questions. No, I did not do anything for his company. edit 2: I did some digging looks like he signed a gift letter to me. I assume this changes things as there is documentation it is a "gift" and not a bonus as some people have been referring to in the comments. edit3: Thanks for all the help people! [link] [comments]  |
| Posted: 01 Feb 2019 09:04 AM PST I just finished up my tax returns, gonna get a fat check :D Of course, as a teacher, I am dirt poor and have 2 credit cards that are maxed out. I want to put my tax returns to paying off these credit cards. One is $10,000 with a 22+% interest rate (current payment is about 330 a month) and the other is $2000 with no interest for about another year when the interest rate will change to being about the same (current payment is about 30-40 a month). Should I completely pay off the small one and put the rest to the large one, or put it all to the large one and work on the other one once the large one is paid off? [link] [comments]  |
| Employer "gifted" my child $5k instead of paying me directly. What are the tax implications for me? Posted: 01 Feb 2019 01:00 PM PST A substantial portion of my wages each year is given to me, through payroll, as a year-end bonus. Instead of including $5k in my bonus this year, for some reason my employer wrote a check out to my child (a minor) and gave it to me. I still received other money as a year-end bonus, but this additional $5k brought the total to where I expected it to be (implying that it was actually intended for me). I don't know why they did it that way, and I'm not going to ask unless I learn otherwise. I want to know how to handle the taxes on this. It was technically a gift to my child. It was from the company, written on a company check. I deposited the check and it's in a bank account in my name. What's the above-board way to handle this? Thanks for any help! [link] [comments]  |
| Posted: 01 Feb 2019 06:23 AM PST /r/RedditAds is a mess right now. I have a small art and animation community I was going to promote, so I decided to put $20 over a day or two into it with Reddit Ads. At first it seemed like a big success, but then I found out that my spend limit was outspent by over triple. I'm not the only one this has happened to, and now it's continuing to charge me even though I shut off the ads, and the same appears to be happening to others.. Now, I'm reaching out to Reddit and trying to get it resolved as best I can, but they've been somewhat unresponsive/noninformative with no indication of anything like a refund. In the subreddit, people are advising chargebacks, but the issue is that I used my debit card, not my credit card, and I can only find a place to update my card info, rather than remove it outright. Is it possible to chargeback with a debit card or block Reddit in the unfortunate chance that I'm unable to get things resolved with their support? [link] [comments]  |
| Turbo Tax "Free File" and "Free" Posted: 01 Feb 2019 05:56 PM PST I noticed today while helping my girlfriend with her taxes something kind of annoying. I told her to use Turbo Tax Free File but it turns out there is a difference between the "Free File" and "Free" version of the software. If you start on Turbo Taxes website and enter the free web version of the software it will set you up just like the "Free File" version does. This "Free File" version is the one I accessed directly through the irs.gov website. The difference being that when she reached the point where she fills out her educational expenses the software tells her she will file her taxes wrong if she does not pay for Turbo Tax Deluxe for $40. This does not happen in the "Free File" version I was using. I tried to get her to access Turbo Tax through the irs.gov website like I did but it just redirected her to the "Free" version she was using before. Only by clearing her return, then accessing Turbo Tax through irs.gov was she able to get the the "Free File" version and not be harassed to pay $40. Seems slimy to me, especially for a reputable banking software. [link] [comments]  |
| Posted: 01 Feb 2019 07:04 PM PST Hi all, First time posting to this subreddit, and would really appreciate some advice. I recently started taking investing/ saving seriously now I am nearing my 30's. Two years ago I made a roth IRA with Merrill Edge, and stupidly put all my money into a 5 year brokered CD. The rate is less than optimal in todays market. Now that I have a stable job and employer match 401k, I am learning more about investing and would like to transfer my IRA and start investing with Vanguard. Would it be worth it to sell my brokered CD at a loss and move my funds over? I would lose about 2% and I'm not sure what else I would pay in fees. Currently the CD is 2.3%, non callable, maturing 1/2022. My other option is to CD ladder as I have some funds that just matured after a year in the same account. Thanks in advance. [link] [comments]  |
| Cost of buying and owning land. Posted: 01 Feb 2019 06:46 PM PST I'm 21 and really would like to buy 5.5 acres of land in Boise, Idaho. It comes with a storage shed and a nice rv for living in. I want to eventually build a house. It already has a building pad and a power panel installed. Besides the 13.8k down payment and mortgage of 365/m, on a 30 year fixed plan, what are the other costs/fees would I be paying? Any advice in buying and owning land would really help me too. What are some questions I should ask the real estate agent? [link] [comments]  |
| One of those should I take a paycut for my sanity post Posted: 01 Feb 2019 06:20 PM PST I've read every article on the subject, Just looking for perspectives relevant to my specific situation. I just really cannot make up my mind and don't really have people to discuss it with. Current situation; 28, Single Male No debt Max out 401k (w/ 5% match) and Roth IRA (via backdoor) every year. 160k salary (w/ potential to make 170-190k pretty easily if I want to work more.) Currently live in SoCal. (I hate everything about it besides the weather.) Love my job. I want to move to Tennessee w/ same company, doing the same thing (less busy obviously), with the same benefits and just taking a paycut. Salary would be 115k (w/ potential to make 120-130k, less opportunity to increase but still could do so if I wanted or needed too) Both jobs are extremely stable. Obvious benefits are my sanity, much cheaper cost of living. Based on my estimations I could still max 401k and IRA yearly. It just sucks to take that massive of a paycut. Perspectives? [link] [comments]  |
| Posted: 01 Feb 2019 09:34 AM PST I'm probably going to have 75k or so coming to me on the next month or so from the sale of my home. I'm going to get into a the rental for the next year or so and then probably take the money for a down payment on another home. Question is, do I just put the 75k in a savings account until then or is there a smarter option? [link] [comments]  |
| 1099 Correct Way To Report Research Grant Reimbursement? Posted: 01 Feb 2019 04:40 PM PST I hope it's okay to ask specific tax questions here! I completed my dissertation in 2018. I had received a National Science Foundation Dissertation Enhancement Grant to fund that research. The grant was awarded to my university with my advisor listed as the PI. The grant could not pay for a stipend, fellowship, or scholarship, and could only be used to fund study expenses (e.g., equipment, study space, payment to participants). Most of the grant the university directly paid out but there were a few expenses that I had to pay upfront then submit reciepts to the university for reimbursement. Last week, I received a Form 1099-MISC from the university, with a reported income amount exactly equal to the amount I received in reimbursement in 2018. I confirmed with the university the reported income was my reimbursements. I'm concerned that this isn't the correct form for this type of reimbursement but my university insists it is. Again, it was not a stipend, fellowship, travel award, or a prize - but a reimbursement for funds I paid OOP for a research study. My questions: 1. Was a 1099-MISC the appropriate form to use? 2. If so, can I then list the expenses I paid as a business expense and deduct that amount? The total amount is $2000 or so, but I don't have a huge income so it will be a lot to pay. The university just says if I disagree I can hire an accountant, I don't have a ton of money to do that but I could if necessary. [link] [comments]  |
| Is this a realistic financial goal/outlook for the remainder of 2019? Posted: 01 Feb 2019 11:37 AM PST Would love to see what you all think - is this a good financial outlook for the remaining 11 months of 2019? I'd like to set myself up to be as financially healthy as possible as I continue to enjoy life in my twenties. THANK YOU in advance for any advice, feedback, etc. Basic Info: 24YO, Minneapolis, Roughly $2,500 monthly income (Sales. Took in $40k gross in 2017, $48k gross in 2018, likely to continue to increase to $50's this year), Roughly $1,110 monthly expenses. Roughly $1,100 in checking Roughly $4,500 in savings for emergency fund Roughly $5,600 in 401K (currently contributing 6%) Step 1: Pay off student loans I have paid off roughly $25,271 since payments started in October 2016 (graduated May 2016). I have roughly $7,571 remaining to pay. I can see the light at the end of the tunnel. This is the home-stretch. I have been paying an average of $1,600/month the past 12 months - I have dug into savings to pay these off as aggressively as possible. Hoping to have these completely paid off by May/June/July area. $1,649 at 4.2% $5,921 at 3.8% Step 2: Boost emergency fund to 7 - 10 K Once I've paid off my student loans, I'll be debt-free and barely 25 years old. My savings/emergency fund will likely be fairly low by the time I make that last student loan payment. I'd like to take the money that I've been allocating to my loans, and fatten my emergency fund to over 6 month's expenses. Hoping to have this completed by November/December area, ideally. Step 3: Increase 401K contribution to 10% - 12% By late 2019, I'll be debt-free and have increased my savings account back to a fairly comfortable level. Assuming I've completed steps 1 and 2, I'd like to grow my 401k by increasing my contribution percentage. [link] [comments]  |
| What else can I do to fight “surprise “ medical bill? Posted: 01 Feb 2019 01:18 PM PST I have a lot of medical debt due to having a baby and being hospitalized the previous year. Family deductible of 5k for in network providers. Out of pocket max for in network was 6800 and I believe 10k for out of network. Long story but basically I had my baby in an in network hospital and I got an epidural. Turned out the MD who gave it was not hospital employee and was out of network provider. The procedure was pre authorized by insurance. I was denied my first appeal and am fighting the second. I applied for financial assistance with hospital but it was declined. Currently husband and I are paying off about 10k in bills for medical debt alone , I think we are at around 500/600 a month in payments. It is very hard to get ahead. We both have good jobs but all the money goes to bills. The epidural bill was covered out of network and I still have to pay 3k if I lose this second appeal. I am wondering about what other avenues I should take. These medical bills are crushing and I have extreme guilt now that I got the epidural. It wasn't an issue with my first baby but I guess my insurance was different. Oh and I did file complaint with insurance commissioner and they replied that they basically think it sucks and there are laws being proposed against this type of balanced billing but at this time they cannot do anything. [link] [comments]  |
| Posted: 01 Feb 2019 02:52 PM PST So yeah, About 6 months ago, this employee was supposed to have recieved a raise from 11 dollars to 11.50. This employee definitely deserved the raise, as people around them make more than them, and do less work. This employee is one of the best, always busting their ass and putting in countless overtime hours. So when my bosses discovered today that this employee was marked as having made 11 dollars this whole time, they looked a bit panicked, and they decided to send that info on to the payroll person to "have solutions be made". I don't have the authority to be involved in this situation at all, BUT coincidentally this employee is my roommate. They don't know about this yet. They have always complained about being suspicious about not making as much money as they were supposed to be making, always trying to keep track of their hours on paper and sending it in to the office to have them compare and make sure everything is right. My boss saw me hear this situation go on in the office, and he knows I am their roommate. He immediately turned to me and said, "Now remember, what you hear in this office, STAYS in the office." With a stern look on his face. I am just in a weird situation. Hopefully the office writes this employee a check for all the money they missed out on? Is that what happens in these situations in business? Should I tell this person? I am 24 and new to the business salary office scene, always looking to learn. I hope that the thing that you guys think is right, is what my office does, because I don't really have the say to change their decision if not. Thanks. [link] [comments]  |
| Can I claim loss of property that was damaged/lost in a fire at a storage unit? Posted: 01 Feb 2019 07:33 PM PST Last summer all my shit was in a storage unit and there was a fire in another unit that lit the entire first floor. My stuff was not burned but had severe smoke damage and I had to get rid of most of it. I filed a claim and was reimbursed less depreciation. I know there is a casualty event tax break on TurboTax, but based on the info it asks for I am not sure this qualifies... Or perhaps there is a way to claim it that I am not aware of? It asks about fair market value and I cannot possibly estimate that... I use the free version. I'm willing to upgrade if the results cover the cost. Does anyone have an idea? [link] [comments]  |
| Posted: 01 Feb 2019 07:13 PM PST My paid off car was recently totalled by somebody while it was legally parked. Now the insurance company is cutting me a check for about 8k. I'm going to use that 8k plus another 3k of my own money for a down payment on a newish car. My question is can I put the whole 11k on my capital 1 card for the cash back and pay it off as soon as it posts? Like this won't even raise an eyebrow that I just got 165 dollars in cash back with a single transaction and paid no interest? [link] [comments]  |
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