Moving Expenses to Credit

[rizzmo]

My wife and I have been tossing around the idea of putting all of our bills and purchases our credit card with Disney rewards points. We would then close our checking account and have our paychecks directly deposited in our money market. The idea here is to earn interest on our money until we get the credit card bill, then pay it in full from the money market account. I figure putting 30-40k a year on the card we should be able to significantly reduce the cost of a yearly vaction. Does this seem like a reasonable plan to others?

[disneysteve]

Yep. Sounds good to me. I haven't taken the step of closing the checking account yet, but otherwise I keep the bulk of the money in our MMF, periodically transfer funds to the checking account and pay the bills from there. And everything that possibly can be paid by credit card is. Some things are billed to the card automatically. Others I manually charge to the card.

[mrpaseo]

I have been paying as much as I can with cc for years, usually I pay the balance in full. That is until I started getting interest free credit cards...back to back. I am currently carrying about 18,000 dollars on the cc interest free, with all the money to cover the cc's sitting in my ING account. I do not seek out these cards, somehow they find me, currently I have two cards that will have a zero percent interest until JUL 09. By then, i figure I will have about 40,000 charged on them. Come Jun 15, they will all be paid off.

Ray

[rizzmo]

Thanks just wanted to check my thinking.