The Credit Card Money Game

The credit card money game has a few simple rules:

1. All credit card balances must be paid in full each billing cycle
2. Use 2-3 credit cards
3. Write the monthly statement dates down for each card you plan to use (this is the date the credit card generates a new monthly statement for you)
4. Only purchase what you can afford to pay in full the next billing cycle

Here is an example of the closing statement dates for my credit cards. Anything charged after the statement date goes onto the next billing cycle.

Citi Bank card............statement date is the 5th of each month
Discover card.............statement date is the 11th of each month
American Express......statement date is the 25th of each month

Credit Card #1 has a statement date of the 5th of each month, so anything you charge after the 5th you won't need to pay until the following month. Use this card until card #2 closing statement date has past, then that will be the preferred card of choice for a period of time.

Credit Card #2 has a statement date of the 11th, so start using this card on the 12th for all your purchases.

Credit Card #3 has a statement date of the 25th, so start using this card on the 26th for all purchases. This card will be used until the 6th of the following month and then you start the credit card cycle all over again.

Remember if you have only one credit card that gives you a cash back bonus reward at the end of the year, you may prefer to only use that particular card for all purchases and online bill paying. Don't forget to pay your balance in full each billing cycle.

The purpose of this little game is to have the ability to use other peoples money free of finance charges each and every month for the longest period of time. This allows you to keep your money in savings or a money market account for as long as possible.

WORD OF CAUTION FOR ANYONE WHO HAS UNPAID PREVIOUS BALANCES ON THEIR CREDIT CARDS, DO NOT PLAY THIS GAME!!