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Established Contributor
Posts: 727
Registered: ‎01-13-2013
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Re: Using Credit Cards to pay for bills?

I have geico and I can pay it with a CC.... Smiley Very Happy

Amex PRG NPSL, Amex Delta 2k (AU) Discover iT 5k, BOFA Siggy $5k, BOFA AlaskaAir Siggy 5k, BBVA Compass $5k! Macy's $4.5k, C1 $2.5, SFCU $2.5k, SFCU LOC $2k, Paypal SmartC $4k, Sam's 5.5k Victoria Secret $2k, Kay's $1.7k.,76/Citi $1.5k Amazon $5k, Walmart Disco $3k JC Penny $4k, C1 $2.5, BBRZ 700.
Starting:TU:536 EXP:561 : EQ:552 Current:TU:680 Walmart (2-15-14)EXP:712 FICO!! (12-4-13):EQ:622 (FICO 2-6-14) Uti 27% Goal: 720 By 12-13.
Blogger
Posts: 3,360
Registered: ‎10-19-2012
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Re: Using Credit Cards to pay for bills?


Rhaeny wrote:
It's okay, everybody has a blonde moment Smiley Happy

I pay for EVERYTHING that I can with my CC to maximize any and every reward available to me. I pay all of my bills by putting them on autopay to my CC. That way I'm not worried about late charges and forgotten payments. It also means I have less number of bills to pay. So yep you are on the right track!!

Way to go up in the ranks, Rhaeny Smiley Wink Almost didn't recognize you due to the grape color Cat Embarassed

 

Established Contributor
Posts: 500
Registered: ‎05-11-2007
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Re: Using Credit Cards to pay for bills?

While i agree with the others here for the most part, only you know you and your financial disipline. If you have ever had issues letting balances run, orbif there are times that a person is close on the edge with money for a month or two, then be careful. Using cc for rewards can be great. I personally dont let big balances run up and have to even think about paying a big bill, so i use andnpay multiple times a month. Guess what i mean is, if there is a chance you will ever run balances and have to pay interest, it can negate what you get in rewards. Others will charge the heck out of a card and cut one payment a month. Figure out what is comfortable and go for it.
Frequent Contributor
Posts: 347
Registered: ‎11-17-2012
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Re: Using Credit Cards to pay for bills?

[ Edited ]

zerobacan wrote:

I have geico and I can pay it with a CC.... Smiley Very Happy


I have State Farm Insurance & pay with a State Farm Visa !  And take advantage full of the 2.99 fix pay for 6 months (although pay in full within 2 statements) while reaping State Farm dollars to redeem as statement credit.

 

SisterGirl

SisterGirl
Valued Contributor
Posts: 1,507
Registered: ‎07-24-2011
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Re: Using Credit Cards to pay for bills?


Chris123nTx wrote:
While i agree with the others here for the most part, only you know you and your financial disipline. If you have ever had issues letting balances run, orbif there are times that a person is close on the edge with money for a month or two, then be careful. Using cc for rewards can be great. I personally dont let big balances run up and have to even think about paying a big bill, so i use andnpay multiple times a month. Guess what i mean is, if there is a chance you will ever run balances and have to pay interest, it can negate what you get in rewards. Others will charge the heck out of a card and cut one payment a month. Figure out what is comfortable and go for it.

+1

 

Yes it does take discipline to use this method of paying your bills on your CC.  I just deduct the amount that I should pay for each bill from my checkbook balance and that's what rules!  The checkbook balance!  Doesn't matter what the bank balance says because the checkbook balance is the master in this case.  So when the CC bill is due I know I have the funds to PIF.

 

Now I seen people stray from this and keep looking at their bank balance and seeing a huge amount of money sitting in there, but they always need to keep in mind that all of that money is accounted for to pay something else.  If you fail this portion, then yes the next thing you'll know is that you are racking up debt that you shouldn't have because you're not paying your monthly bills.  

 

I've become very consistent in my method and it works for me.  Everyone has to do what's best for them, but at the end of the day it all boils down to self-discipline.


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Valued Contributor
Posts: 1,863
Registered: ‎09-20-2011
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Re: Using Credit Cards to pay for bills?

My PNC account has a really slick way of making this easy.  With the virtual wallet service you get three accout.  You have your normal checking and savings.  But really the checking is split into two accounts they call spend and reserve.  You can move money between those unlimited times.  What I do is pay something and immediately move the money from spend to reserve.  That way when you check you balance you know how much money you have to spend.  At the end of the month dump it back to spend and pay the CC bills in full.  I really like the set-up.  Smartphone apps make moving the money on the go quick and simple.

Frequent Contributor
Posts: 347
Registered: ‎11-17-2012
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Re: Using Credit Cards to pay for bills?


boomhower wrote:

My PNC account has a really slick way of making this easy.  With the virtual wallet service you get three accout.  You have your normal checking and savings.  But really the checking is split into two accounts they call spend and reserve.  You can move money between those unlimited times.  What I do is pay something and immediately move the money from spend to reserve.  That way when you check you balance you know how much money you have to spend.  At the end of the month dump it back to spend and pay the CC bills in full.  I really like the set-up.  Smartphone apps make moving the money on the go quick and simple.


+1

 

SisterGirl

SisterGirl
Valued Contributor
Posts: 1,507
Registered: ‎07-24-2011
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Re: Using Credit Cards to pay for bills?


boomhower wrote:

My PNC account has a really slick way of making this easy.  With the virtual wallet service you get three accout.  You have your normal checking and savings.  But really the checking is split into two accounts they call spend and reserve.  You can move money between those unlimited times.  What I do is pay something and immediately move the money from spend to reserve.  That way when you check you balance you know how much money you have to spend.  At the end of the month dump it back to spend and pay the CC bills in full.  I really like the set-up.  Smartphone apps make moving the money on the go quick and simple.


That's a great option to help those people who have a difficult time trying to start off managing bill pay on your CC, as well as those who want to just want to see their spend money and not their reserves.  It would definitely help a person stay on track.

 


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Frequent Contributor
Posts: 252
Registered: ‎02-19-2013
0

Re: Using Credit Cards to pay for bills?

I've ran all my bills through my CC's since day one... GEICO, AT&T, etc. Super easy way to rack up points or cash-back if you're always paying in full & your income can support whatever bills you may have. Charging everything to your CC $ paying the minimum month in & month out is a different story though.
      

      

Established Contributor
Posts: 2,112
Registered: ‎09-25-2011
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Re: Using Credit Cards to pay for bills?

rent / mortage

 

United Mileage Plus -> Bigcrumb -> Amex gift card (rebate 1.4% cash back) - > Williamspaid (pay 2.9%)  

 

 

 2.9% Fee

-1.4% cash rebate

-------------

1.5% 

 

hit 25,000 in annual spending = 10,000 extra points for 1.4 points on a dollar with Mileage Plus card

 

 1.5% fee for 1.4 United Miles = 1.07 cents per mile -> $2,800 ticket in July = 65,000 United Saver award = 4.3 cents per mile redemption total cost of points $695.50


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
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