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/hardolaf ​ Nov 14 '22

$2K/mo is the going rate in Chicago for bog-standard daycare. Infant care is about $1K/mo more due to limits on the number of infants per adult.

-2

u/[deleted] Nov 14 '22

I live in Chicago actually. Fortunately I found a babysitter for 8$ per hour

2

u/hardolaf ​ Nov 14 '22

8$ per hour

So you're paying a bit over half of minimum wage? Please tell me they're watching two children or more at the same time.

1

u/[deleted] Nov 14 '22

It seems like a better idea to outsource babysitting to home moms. Instead of paying a corporation that needs money for admin, advertising, zoning, building, rent/mortgage, employees, maintenance, and general staff.

-1

u/[deleted] Nov 14 '22

Yess she has about 5-6 kids at her house daily