Use a credit card for bills - with a debt balance?

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Use a credit card for bills - with a debt balance?

Postby signwave » Thu Dec 31, 2015 3:50 pm

Hi Folks,

I have a credit card with a debt which I expect to pay off over the course of a year. When I do my monthly accounting, I usually set aside money to pay for next month's bills and household budget - and then take everything that's left to pay down the CC debt. My question is: Is it better to set aside cash money for bills and expenses - or should I take every last penny I make and pay down the CC debt - while then using the credit card to pay my monthly bills and expenses. Is there any benefit to paying down the credit card as much as possible at the beginning of the month - while then using it to pay for bills and expenses - even though it has a running debt that I am paying off?

Thanks very much,


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Re: Use a credit card for bills - with a debt balance?

Postby Vattené » Thu Dec 31, 2015 6:40 pm

There's nothing wrong with using the card to make other purchases per se. The only benefit to using the card while you're paying down a balance is the rewards that come with the purchases. Sticking to your method of using cash for monthly expenses while focusing on paying off this debt will certainly be easier, but if you can keep track of the purchases you make with the card and pay them in full in addition to the budgeted balance you're paying down I say go for it. The hardest thing will be making sure you don't let the fact that you've got a card to swipe impact your spending because it can be easy to let things get out of hand.
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