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But why Credit? That balance is still in existence correct?
You're essentially asking, "Why do you rob Peter to pay Paul?" and your question would be valid - it's foolhardy to do, IMO. Most won't understand the problem. Unless you're earning like 50% rewards (which nobody is), it's not practical.
HOWEVER...I use my MasterCard debit card to pay it. That way it's coming out of money I would have used to pay them anyway, but I also get points on the purchase. Smartest thing to do. Full-on credit card is just asking for additional debt and trouble.
Like others, I pay as many bills as possible via credit card. I never carry a balance. Have taken many trips with the air miles I earn. There is also additional security with cc purchases/transactions versus personal checks.
It's only foolhardy if you carry a balance, which in itself is kind of foolhardy.
Deeper than that.
Suppose you pay utility bills today on a credit card. Something happens - you become disabled, lose your job, etc. You now have a debt to pay. Maybe you have some nest egg stored, that's fine. But you're still effectively robbing Peter to pay Paul.
Whereas if you use a Visa/Mastercard debit card that happens to have rewards, you're paying with money you have already - money that you have a chance to budget against. If something were to happen, you don't care, because you have no debt.
Just my opinion - the better way of handling it. I've never paid a bill with a credit card and never will. It's essentially financing debt.
Suppose you pay utility bills today on a credit card. Something happens - you become disabled, lose your job, etc. You now have a debt to pay. Maybe you have some nest egg stored, that's fine. But you're still effectively robbing Peter to pay Paul.
Whereas if you use a Visa/Mastercard debit card that happens to have rewards, you're paying with money you have already - money that you have a chance to budget against. If something were to happen, you don't care, because you have no debt.
Just my opinion - the better way of handling it. I've never paid a bill with a credit card and never will. It's essentially financing debt.
I was thinking of having my smallet two bills paid by my AMex which totals to about $60 and just pay the bigger bills like cable and phone with my Visa Debit
Suppose you pay utility bills today on a credit card. Something happens - you become disabled, lose your job, etc. You now have a debt to pay. Maybe you have some nest egg stored, that's fine. But you're still effectively robbing Peter to pay Paul.
Whereas if you use a Visa/Mastercard debit card that happens to have rewards, you're paying with money you have already - money that you have a chance to budget against. If something were to happen, you don't care, because you have no debt.
Just my opinion - the better way of handling it. I've never paid a bill with a credit card and never will. It's essentially financing debt.
I don't get it. If a person pays their credit card off monthly, then what is the harm in using a credit card? What's the advantage of a debit card?
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