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re: Paying Bills with Credit Card to accrue points
Posted on 5/8/24 at 9:46 am to BatonRougeBuckeye
Posted on 5/8/24 at 9:46 am to BatonRougeBuckeye
quote:
Pros/Cons?
Pros - Free Money
Cons - None, unless you are irresponsible
Posted on 5/8/24 at 9:47 am to BatonRougeBuckeye
quote:
Paying Bills with Credit Card to accrue points
Anyone doing this? Pros/Cons? Which cards are most beneficial?
I put every single penny of my expenses on credit card each month, with the exception of mortgage that won't let me & my water bill that wants to charge me an absurd fee to do so.
The only con I can think of is for those people that can't manage it well enough to pay off the card each month.
Posted on 5/8/24 at 9:57 am to BamaCoaster
quote:
Recommended for all.
Insurance, water, cell, gas, electricity, internet, daycare, etc.
Unfortunately most of my utility bills charge for using a credit card and are cheaper to just remove directly from checking as some have pointed out. Just need to keep an eye on those.
Electric - Straight from checking. Charges fee for CC.
Water - Straight from checking. Can't even pay with CC. Country
Internet - T-mobile Home Wif - $5 Cheaper if straight from Checking
Cell - Pay with credit
Insurance - Pay with credit
Posted on 5/8/24 at 10:15 am to LSU
quote:
my water bill that wants to charge me an absurd fee to do so.
Same here. 5%? Seriously?!!! It seems like within the last year or so (post pandemic?), more and more businesses are either applying a percentage fee for card use or adjusting the price of goods by some amount (especially gas stations). Years ago, to rack up some reward points, I was able to use my card to put a down payment on a car. Why not get the points, as it was money sitting in my checking account that I was prepared to write a check for anyway. But with the car that I bought last year, that was a no go.
As a couple of others have mentioned, cell phone providers, restaurants, utilities and especially mortgage companies have either established fees or disallowed card use. Kind of a bummer, but just makes us have to work a little harder to take advantage of the benefits of (responsible) card use.
Posted on 5/8/24 at 10:15 am to Theduckhunter
we put a lot but some of our utilities will charge a fee if paid by card so that's a NO. the Univ started a fee 4-5 yrs ago, I think. Chase Amazon. my wife will put some of her business purchases on it as well.
Posted on 5/8/24 at 10:49 am to Jag_Warrior
quote:
Years ago, to rack up some reward points, I was able to use my card to put a down payment on a car.
I'm planning to do the same next month on a new car. They already let me put the deposit down with a card & told me I can do my down payment that way as well.
Posted on 5/9/24 at 7:18 pm to BatonRougeBuckeye
Nerd wallet
This site is great. Choose the card that best fits you. If you want to use points for travel then choose one that best fits that. I have the capital one venture X card. It has a high yearly fee but it covers your PSA precheck and they give you $300 towards hotels a year if you book thru capital ones site. Has other perks as well.
You have to pay attention to points. For instance capital one for travel is $1 for 1 point when redeemed but cash back is $.50 for 1 point. So i can get $1000 towards travel but if I wanted cash back it’ll only be $500.
Venture X
This site is great. Choose the card that best fits you. If you want to use points for travel then choose one that best fits that. I have the capital one venture X card. It has a high yearly fee but it covers your PSA precheck and they give you $300 towards hotels a year if you book thru capital ones site. Has other perks as well.
You have to pay attention to points. For instance capital one for travel is $1 for 1 point when redeemed but cash back is $.50 for 1 point. So i can get $1000 towards travel but if I wanted cash back it’ll only be $500.
Venture X
This post was edited on 5/9/24 at 7:26 pm
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