Credit Card Usage Strategy

tjmurphy

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Joined
Oct 12, 2010
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Good afternoon everyone. I am curious to get feedback from those of you that apply in multiple states and use a credit card. Do states put a hold or charge on card? If they charge doesn't in negatively affect your credit score? Any positives to using a credit card? If you payoff the balance how does the refund work going back on a zero balanced card? Paying with debit card the best way? Even with tying up as much as much as 5k of savings? I know the best way is probably to have a dedicated account with 5k cash in an account specifically for draws every year. LOL I have a lot of questions on the best financial strategy while putting in for as much as I can budget so if you all don't mind sharing how you go about it, I would appreciate to learn the best options. Thank you. TJ
 

Shortbowshot

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Jan 28, 2021
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211
I use a couple cards and apply in about 9 states. I try to watch my billing cycles and apply right after the cut off. It gives me a bit longer to carry some of the more expensive states. I pay my balances monthly to avoid interest. The credit normally goes back on the card which we use toward property taxes or some other expected yearly expense.
The only time it has negatively impacted me was a year we built a new home and we're applying for permanent financing. Our credit check just so happened to fall when Wyoming and New Mexico were both on my card. The bank frowned on that.
 

KayakMacGyver

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Jun 8, 2018
Messages
251
I do the same as @Shortbowshot. My Wyoming apps, particularly elk, become deferred savings accounts as I also pay off my credit card every month.

Almost got screwed on a refinance by New Mexico as well. A $15K hit on my credit card drops my credit score about 70 points each year but it will bounce right back a couple of months after. In the beginning of Covid, when interest rates took a nose dive, we made a quick decision to refinance and were very close to missing out on the prime rate because of NM hunting apps. It worked out, but definitely something to consider.
 
Joined
Jan 28, 2020
Messages
93
Good afternoon everyone. I am curious to get feedback from those of you that apply in multiple states and use a credit card. Do states put a hold or charge on card? If they charge doesn't in negatively affect your credit score? Any positives to using a credit card? If you payoff the balance how does the refund work going back on a zero balanced card? Paying with debit card the best way? Even with tying up as much as much as 5k of savings? I know the best way is probably to have a dedicated account with 5k cash in an account specifically for draws every year. LOL I have a lot of questions on the best financial strategy while putting in for as much as I can budget so if you all don't mind sharing how you go about it, I would appreciate to learn the best options. Thank you. TJ
i get offers every year spend $1000 or whatever in 90 days get 200 or 300 back pay off every month dont hurt score
 

SaskHunter

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Aug 7, 2018
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Location
Saskatchewan
I use my main Credit Card and pay it off as I go with my savings. I get some pretty good rewards with my card so it's a no brainer. Whenever I expect a refund on the card I either get credited or if I think about it I do a minimum payment and let the refund clear the card.
 

wllm

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Joined
Dec 9, 2015
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15,032
Location
Boston
Good afternoon everyone. I am curious to get feedback from those of you that apply in multiple states and use a credit card. Do states put a hold or charge on card? If they charge doesn't in negatively affect your credit score? Any positives to using a credit card? If you payoff the balance how does the refund work going back on a zero balanced card? Paying with debit card the best way? Even with tying up as much as much as 5k of savings? I know the best way is probably to have a dedicated account with 5k cash in an account specifically for draws every year. LOL I have a lot of questions on the best financial strategy while putting in for as much as I can budget so if you all don't mind sharing how you go about it, I would appreciate to learn the best options. Thank you. TJ
I tend to be pretty conservative when it comes to finance so here goes...

1. You do want to use a credit card to pay for almost everything these days for a LOT of reasons, number 1 being security.

That being said I'm personally not comfortable with a huge balances even if I know it's all going to get refunded. I have a savings account where I keep funds for applications, I have a small amount each month direct deposited from my paycheck to "replenish" the account as no application is a 100% refund after fees, points, blah blah blah.

When I apply I pay with a credit card then immediately pay off the balance as to not effect my credit score. When you don't draw you will get a charge back on your card, if the card has a $0 balance you just have a negative balance for a while.

Then for the next little bit I use that card for purchases slowly using up the "refunded" negative balance and each paycheck I transfer some money back into my "hunting account". Last few years I've been able to sync things up with big purchase so it don't get too wonky, replaced a timing belt/re-did the head gasket on the sub, bought appliances, etc.

It's a bit more work than just throwing it all on one card, but that's the way I like to do it.

I also don't apply for every species in WY, NM , etc every year so it's not a ridiculous amount of money.

Probably nothing wrong with the simplicity of 30k on a card for a couple months making the min payment but to be honest I'd wake up in a cold sweat in the middle of the night after a nightmare of @ElkFever2 standing over me brandishing his copy of David Ramsey if I did.
 

wllm

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Dec 9, 2015
Messages
15,032
Location
Boston
My card got compromised during the 4 month wait for Wyoming results so I got a new card. Wyoming says they refunded my old card. My card company says they didn’t. I’m getting nowhere and it looks like I might be out $980.00.
I'd report the original transaction as fraud. Credit card company will re-issue your card and then they will sort it out with WY.

Not with hunting apps, but I have run into this exact situation before with a charge back, essentially the accounting department at Regus was garbage and they had done the charge back but since the credit card number had changed the charge back had "bounced" and the money was sitting as a credit on the Regus's account.

Never do business with Regus (office space rentals) they are a dumpster fire.
 
Last edited:

Mallardsx2

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Apr 4, 2015
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1,329
^^^ 100% agree....Any time I have an issue with something like this I report it as fraud.
 

ElkFever2

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Mar 4, 2019
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Location
Iowa
You don’t need a credit card or a credit score. I only have 1 now and in 5 years I’ll have neither. I use a debit card on apps for the simplicity. If they still allowed to pay by check I’d be doing that.
 
Yeti

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