r/personalfinance • u/EmojiOfAKeyboard ​ • Nov 13 '22

Putting $4k on credit card for furniture and immediately paying off? Credit

New house so we need new furniture. And we have money saved.

Last time the store didn’t even ask us how we wanted to pay. It was just “okay this is the monthly financing, sign here”

I immediately paid it the next day.

…. But I don’t want to do that.

Instead of swiping my debit card (because I don’t normally have $4k just sitting in the checking account) is it a bad idea to put it on my credit card?

1) my card says I have $7k available in credit.

2) I will pay it off tomorrow

3) I get 2% cash back in rewards

this seems like a no brainer but I wanna know if this is dumb before the sales people hound me into not doing this

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u/Narsick ​ Nov 14 '22

I used to do this ALL the time for my previous employer. They were super good about reimbursement checks if you came out of pocket for any materials/tools needed on behalf of the company.

It was very common for me to front 2-3k/week for materials on a personal card just to get reimbursement (+interest) the next week.

I actually opened up a CapitolOne rewards cards specifically for this.

Edit: Spelling

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u/ForeverInaDaze ​ Nov 14 '22

Yeah my old company would do this with lunches for employees. There was a person above my boss that would frequently treat employees in the area to lunch, and he was very open about the Discover card he opened with an absurd cash back reward on dining. Would rack up thousands over the year in rewards and then used it to buy us gift cards as a part of EOY bonus.