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concert_debt wrote:best advice i ever heard (but i'm no expert, so people feel free to educate me if this is wrong!) - whatever you wanna buy, pay that money in advance on whatever card you want to use, then go buy it! that way you look REALLY good to the cards, little or no finance charges, it's almost exactly like paying in cash, BUT you have a record of your payment (the cc payment) in case of any disputes, and you earn whatever points and your accounts aren't inactive!
.....however, i have never been financially solvent enough to put this into practice.... but i got the advice from a teacher whose sister did the aforementioned...
Welcome to the forums.
PIF'ing accounts is a wise practice. Paying in advance of charging is actually not that good an idea. Generally speaking CCC's do not like credit balances. That's why most of them don't make it very easy to make payments that exceed your balance. The main reason to post a payment in advance of a charge is to be able to pump more through an account than the CL would otherwise let you do.
@pattycake wrote:
My Citi ExxonMobil card was closed last week, and I found out only because I got an SW alert.
This was part of a massive sweep. They dumped tons of these cards.
@creditwherecreditisdue wrote:
@pattycake wrote:
My Citi ExxonMobil card was closed last week, and I found out only because I got an SW alert.This was part of a massive sweep. They dumped tons of these cards.
Can this thread be about my "Putting my 11 cards to rest until March"? Just joking....Hi CWCID
@DI wrote:
@creditwherecreditisdue wrote:
@pattycake wrote:
My Citi ExxonMobil card was closed last week, and I found out only because I got an SW alert.This was part of a massive sweep. They dumped tons of these cards.
Can this thread be about my "Putting my 11 cards to rest until March"? Just joking....Hi CWCID
No one likes to feel alone!
DI,
You don't have to use all 11 cards. You could elect 1 as your main use card.
Also, you could put an auto pay for 1 small bill on each major (electric, water, internet, cell, cable, satellite, etc) and then use each cards "auto-pay" to "pay entire balance automatically" to make sure that you don't have to log in to each account each month. It would be for "expected" amounts that you normally pay cash for anyway and not involve any extra effort of steps.
IMO
I have considered not putting anything on a credit card and only using my debit card for purchases but one thing you have to keep in mind. A lot of identity theft is occurring with debit cards nowadays and there isn't the amount of protection that you get when you use a credit card for the same purpose. You basicly have to notify the bank if your card is stolen or compromised and often you won't know until your account is cleaned out. Credit cards don't have that problem. Just something to think about...
@jefftca925 wrote:I have considered not putting anything on a credit card and only using my debit card for purchases but one thing you have to keep in mind. A lot of identity theft is occurring with debit cards nowadays and there isn't the amount of protection that you get when you use a credit card for the same purpose. You basicly have to notify the bank if your card is stolen or compromised and often you won't know until your account is cleaned out. Credit cards don't have that problem. Just something to think about...
Exactly! That's why I changed my mind. I don't want to put everything on my debit card.