is there any reason not to have a negative balance on my credit card?

[Kuciwalker]

I discovered by accident that this was possible; nothing bad seems to have happened. Is there any reason not to make some fairly large transfer from my checking account to my credit card, essentially turning it into a secured card that pays rewards? Will BoA get made at me?

[Al B. Sure!]

They're going to give you a refund check after 30 days or something with a negative balance. At least Citibank does.

[BlackCat]

I think that Kuci has started to experiment with ethanol

[Kuciwalker]

They're going to give you a refund check after 30 days or something with a negative balance. At least Citibank does.

LAME.

[snoopy369]

Umm, how about the fact that you don't earn interest on that money, while you could in a MMA or something? Not much obviously in this environment, but still... just auto-pay your full balance every month from said large account.

[Al B. Sure!]

Yeah I don't see the point in having your own self-made secured card. You're also reducing your cash on the (granted, extremely rare chance nowadays unless you engage in illegal activity) chance that you will need quick cash.

[Kuciwalker]

Umm, how about the fact that you don't earn interest on that money, while you could in a MMA or something? Not much obviously in this environment, but still... just auto-pay your full balance every month from said large account.

It wouldn't be earning interest anyway, it's in my checking account. And I'd rather just... not have to worry about whether I've clicked the button the website on the right day.

[Kuciwalker]

Yeah I don't see the point in having your own self-made secured card.

I don't actually want credit at all. I'm just doing it for the rewards program and because of the ridiculous way credit scores work. If I could have gotten the same card with all the same features except that it debited my checking account I would have done so.

You're also reducing your cash on the (granted, extremely rare chance nowadays unless you engage in illegal activity) chance that you will need quick cash.

Let's just say that I already have more than enough liquidity already.

[Al B. Sure!]

Why do you not want credit?

[Kuciwalker]

Because I have no possible use for it?

[Al B. Sure!]

Because I have no possible use for it?

I'm not following. It can afford you flexibility and showing a history of borrowing and making timely payments makes you more attractive to lend money to, in the future, when you do have need to borrow money.

[Kuciwalker]

1. As I said, one of the two reasons I have one is so that I can do the ridiculous "building up a credit rating" thing.

2. I have absolutely no possible shortage of liquidity along any time horizon.

[Asher]

It's a 30-day short term interest-free loan. Why would you not want that?

Just pay it off 100% every month.

I just do not see an issue...

[Al B. Sure!]

It's a 30-day short term interest-free loan. Why would you not want that?

Just pay it off 100% every month.

I just do not see an issue...

I'm reading how he keeps saying "I have absolutely no possible shortage of liquidity along any time horizon" and I'm like, whatever, rich ****.

He doesn't want to have credit because he's rich or some ****.

[Kuciwalker]

It's a 30-day short term interest-free loan. Why would you not want that?

Just pay it off 100% every month.

I just do not see an issue...

1. Every time I pay it off the bank takes a while to show the transfer actually happening. This always worries me.

2. I'm paranoid about my own forgetfulness.