Home > Plotting out the LOC

Plotting out the LOC

April 30th, 2014 at 04:16 pm

Our LOC went through today.

I think it is weird how you get money out, but Ive never had one before. You have to call the bank and tell them how much money you need, and then they transfer it to your checking account.

That is a pain if your going to purchase something at a store and you have no clue how much it is going to cost. Or if it is out of regular banking hours, which is when I do ALL my shopping.

To simplify things I think I will just buy what I need on my credit card. Then the next day I can call the bank, transfer to checking, then pay the credit card online.

Does that make sense? Not only will I not have to worry about calling the bank before buying the items, but I will also get 1% back. Also if I wanted to wait until the statement was due on the credit card before paying it with the LOC I would get one month interest free technically.

Has anyone else done it like this?

Excited to purchase some of our trim tomorrow! Its a long overdue project.

2 Responses to “Plotting out the LOC”

  1. doingitallwrong Says:

    I would definitely take advantage of the credit card, if you know you're disciplined and organized enough to pay it off before any interest is charged. The 1% cash back can add up fast!

  2. klarose Says:

    It sounded like the best approach but I just wanted to make sure I wasnt forgetting something. I use the credit card for everything else I buy and pay it off each month. I might as well use it for our upcoming big purchases too. Yay for cash back.

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