Use a Credit Card for most expenses?

[sao123]

I pay everythign with CC and pay it off at end of month...

god i love all the free gift certificates

 

[Schfifty Five]

Originally posted by: sunzt
I don't know if this is true or not, but I've heard that if you use your credit card too much, it will actually lower your credit score.

Is that true? I guess from the way some of you use your CC that it might not be, but I'm not sure if it is true for everyone.

Yeah if you use it too much and not pay it back.....sure your credit score will go down the shitter.

 

[RossMAN]

Originally posted by: azilaga

Originally posted by: Yossarian
why do some of you make multiple payments on your credit card every month if you're just paying it off in full anyway?

For me, just to get it out of the way. It's quite painless when done online. Don't know how many here still write checks.

But why make multiple payments when you can make a single payment on or before your due date?

Let's assume your statement shows you owe $515.00 due 5/10/2006

You would make payments of $200, $15 and $300.

Why not make a single payment of $515?

 

[z0mb13]

Originally posted by: RossMAN

Originally posted by: azilaga

Originally posted by: Yossarian
why do some of you make multiple payments on your credit card every month if you're just paying it off in full anyway?

For me, just to get it out of the way. It's quite painless when done online. Don't know how many here still write checks.

But why make multiple payments when you can make a single payment on or before your due date?

Let's assume your statement shows you owe $515.00 due 5/10/2006

You would make payments of $200, $15 and $300.

Why not make a single payment of $515?

a more normalized checking account?

if u dont do this, you would see a big balance before you pay ur cc bills, and u think u still have a lot of money.

 

[dullard]

Originally posted by: allisolm
and I did get a $10,000 water bill once which could have played real havoc with my balance if the money got taken out and I then had to fight to get it back. No thanks.

Like I said above, you get your bill well before they take out the money. If you see a $10k bill, fight it before it withdraws. If that isn't possible, cancel the autowithdrawl (they cancelling is instantaneous). Problem solved.

 

[ColdFusion718]

The only time I use cash is when they don't accept credit cards. I use credit cards because 1). you get 20 or 30 days (depending on which card) to pay 2). you get rewards (1% on all purchases, 5% on groceries, restaurants, and gas). 3). harder for muggers/thieves to use.

I use my AT&T Universal card for basically everything I buy. I carry about $40 of cash on me just in case I end up in china town (most of the restaurants don't take credit cards).

Also, if I get mugged, I'd at least have $40 to give to the bastard instead of getting stabbed for having nothing on me (hell, if I were a mugger and the mark had no cash on him, I'd stab him out of frustration).

And, of course, I always pay off the balance in full each month. If the $ in the bank doesn't cover the transaction, then it doesn't go on the card, period.

 

[edro]

Originally posted by: ColdFusion718
Also, if I get mugged, I'd at least have $40 to give to the bastard instead of getting stabbed for having nothing on me (hell, if I were a mugger and the mark had no cash on him, I'd stab him out of frustration).

LOL

 

[Baked]

Originally posted by: allisolm
I pay most bills through online bill pay but I initiate the payments. I don't like at all the idea of automatic payments where companies have withdrawal power over my money in my account. Call it paranoid if you want but I agree that it would be harder to get the money back if an error is made (and I did get a $10,000 water bill once which could have played real havoc with my balance if the money got taken out and I then had to fight to get it back. No thanks.)

Good suggestion. I just called my auto insurance co. up and had them sent the bill to me instead of auto bank withdrawl now.

 

[dullard]

Originally posted by: Baked
Good suggestion. I just called my auto insurance co. up and had them sent the bill to me instead of auto bank withdrawl now.

With my auto insurace (State Farm), the monthly bill is $2 more per month, plus you have to prepay 2 months. If yours is the same, expect a tripple bill (this months plus the two months ahead) + $6 on your next bill.