But one questions remains, whether your Slate limit will be high enough so it shouldn't effect your debt to credit ratio to the negative side.
Yep, that's one of the considerations...
Here's my high-level pro/con list... I suppose I'm asking, is there anything I'm missing, or is there any failure in my assessments:
Cons/considerations:
- If financial position changes through the year, the school will likely be more flexible in editing payments/schedule than a CC company.
- Carrying a balance will factor into CC score via debt utilization ratio (I can verify, but I have to assume this is a Personal, not Business, card)
- Need to secure TWO cards with credit lines high enough to charge all of tuition at one time (last Chase cards I applied for had 5K limits, not enough for our tuition responsibility)
- Unforeseen circumstances affecting kids' enrollment (ie. unexpectedly need to transfer schools mid-year).
Pros:
- Possible double-dip on points (min spend/initial payment + VR to pay balance, while it lasts)
- ensures at least single points are earned for tuition (I'm enjoying Bluebird/VRs, but y'can't count on it lasting forever, and this ensures I'll get points for tuition, even if VRs go away).
- some flexibility in the payment schedule (pay more on 3 paycheck months, less on 2 paycheck months)
- frees up limits in other payment services (we also pay our rent, babysitter, cleaning help, grad school tuition, etc. via Bluebird & Amazon Payments, and don't want to open additional accounts to expand monthly limits.)
