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Puzzled_Raccoon6830 OP t1_j6oifsg wrote

Reply to comment by meamemg in Temporary Funding for Adoption by Puzzled_Raccoon6830

We could do a credit card but that would be some crazy interest! The 401k loan would have much lower interest and the interest would be paid to me. The employer reimbursement occurs once it’s legalized finalized which can take ~6 months in New York State, so we’d be looking for some sort of non-credit card solution to avoid a ton of additional costs being piled on. Thanks for the reply!

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meamemg t1_j6oitd9 wrote

Almost all credit cards offer a grace period, where you don't owe any interest, as long as you paid the previous statement in full. See https://www.consumerfinance.gov/ask-cfpb/what-is-a-grace-period-for-a-credit-card-en-47/. So you would have at least 21 days (potentially significantly more, depending on where in the billing cycle you are) to then get the 401k loan and pay off the credit card. No credit card interest involved.

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