I just want to build some credit, so I was thinking that i should use my credit card instead of my debit card and just put the money in my credit card instead of my bank account.
would that be good?
2007-02-09 06:15:55 · 8 answers · asked by naye77041 3 in Business & Finance ➔ Personal Finance
I agree, just dont get out of hand with it, so you can pay it off completely every month. good way to do it would be to write a check for the bill and send it to the credit card company and then put the bill on your credit card, that way you know the money is already on its way to the CC company.
2007-02-09 06:22:40 · answer #1 · answered by thunder31634 2 · 0⤊ 1⤋
This is a good way to go *if* you make sure you keep enough cash on hand to pay the credit card bill off in full before the grace period expires (you don't want to get charged interest on your purchases).
Don't get into the trap of using next month's paycheck to pay this month's bills. You will never get out of it.
Why this is good:
1. you will build a good credit history.
2. your credit card gives you certain protections if the product you buy has problems.
3. your liability if your credit card is stolen is limited (by law)... if your checkbook or cash is stolen, you are hosed, but if your credit card is stolen, your credit card company takes the hit.
4. you have a month to dispute any charges made on your credit card... typically on your debit card you only have a couple of days (depends on your debit card issuer).
2007-02-09 06:42:34 · answer #2 · answered by jlp 2 · 0⤊ 0⤋
As long as you have the money to pay off the credit card at the end of each month so you don't pay a ton of interest, that can be a good thing to do.
2007-02-09 06:20:26 · answer #3 · answered by Judy 7 · 2⤊ 0⤋
Just make sure that your card isn't one of those that charges interest on the daily balance whether or not you pay it on time. Some credit card companies do this. You also have to be disciplined to pay the full balance each month.
2007-02-09 06:39:15 · answer #4 · answered by C Anemone 5 · 0⤊ 0⤋
No..you would be paying more because of the interest on the credit card.
2007-02-09 06:23:59 · answer #5 · answered by KathyS 7 · 1⤊ 1⤋
Don't use your credit card to pay bills...you're just essentially delaying the payment of your bills and possibly end up paying more if interest gets added on.
2007-02-09 06:23:56 · answer #6 · answered by Sunidaze 7 · 0⤊ 1⤋
If you pay the card off at the end of the month, sure why not?
2007-02-09 06:27:45 · answer #7 · answered by Christina 7 · 0⤊ 0⤋
properly you are able to, yet you will merely positioned your credit in threat. it is going to decrease your score, because of the fact it exhibits which you have not got your 'own' funds to pay your individual debt. i do no longer suggestion you to apply a mastercard to pay for a mastercard expenditures, which will screw up your credit!
2016-11-03 00:06:31 · answer #8 · answered by ? 4 · 0⤊ 0⤋