How do y'all manage the Wyoming/New Mexico up-front system?

[Molon Labe]

You get a new card every year with 0% for 12 months. I rotate three cards and get a new card every year and discard one. The card I just got has $700 cash back once you put 9k on the card over a four month period. It's a no brainer.

Also CC are absolutely the safest form of payment due to the ability to cancel and just get a new number and theft protection built in.

Careful opening up new revolving accounts yearly and then closing them out.
That will have a negative effect on your credit score.

The WY/NM cash up front issue:
NM apply the last day (with a card that the monthly cycle ends furthest from that application date) and then they will typically refund before the next bill cycle is due...no worries.

WY...just pay the balance like normal and when refund credit hits ask for a check in the mail.

 

[Fire3023]

I bought a new rifle on the card before I applied, so until the draw is over & refunded I just make a min. payment.
When the draw is over I pay off the rifle/tags and I'm back to zero balance. Win Win.

This is my kind of guy. If you don’t get drawn it eases the pain cause you got a new gun out of it. And if you do get drawn it gives you a good reason to justify the cost of the rifle. I’m a fan of forward thinking!

 

[Theringworm]

Just get a debit card for “your fun/hunting/wife doesn’t know this exists account”………why make it difficult? Fees get paid, fees get reimbursed. Still have fraud protection and a quick and efficient transaction. Set it up so that this account gets an automatic monthly contribution from your main account. You’ll be surprised how much the account will grow.

 

[5MilesBack]

Good question, what if you use the rewards from the purchases before you get the refunds back? Would you then owe money back to your credit card company?

They will turn your points negative by whatever the amount is, then as you spend more it will eventually go back to positive. Just don't take the points until after all the refunds. I normally redeem my cash rewards twice a year.

 

[Fitzwho]

I only front about $1500 a year in NM. Usually only apply for 1-3 species. I just pay it off, get my points etc. Then, if I do get a refund that usually covers the rest of my applications for the year and maybe a tag or two.

Or sort of like Flathead, depending on my schedule, pays for some new gear for the hunt or my old Land Cruiser, with money that was already out of pocket.

 

[Cowbell]

Careful opening up new revolving accounts yearly and then closing them out.
That will have a negative effect on your credit score.

The WY/NM cash up front issue:
NM apply the last day (with a card that the monthly cycle ends furthest from that application date) and then they will typically refund before the next bill cycle is due...no worries.

WY...just pay the balance like normal and when refund credit hits ask for a check in the mail.

That's why I run 3 cards. I cancel them after three years - so long enough to not hurt credit

 

[68Plexi]

Or... apply on the last day of applications so they only have your money for a shorter time. Agree on the CC being the way to go for theft protection.

 

[peaks2prairies]

Credit card and then make my payments based on the items purchased along with applications that are not refunded.

For example, cost of the required state license and habitat stamp is not refunded so make a payment for that amount. If it's going to be more than one cycle, make a small hunt related purchase and make a payment on that amount till you get your refund or are drawn (preferably).

 

[MattB]

As stated above, broad use of a debit card is a really bad idea as it gives fraudsters access to your money rather than the issuing bank's money. Using a credit card is a good fraud loss mitigation tool.