New Life Membership card

wbwood wrote:

beemerphile1 wrote:

Convenience, sit down and pay bills once per month. Using a CC and paying the balance in full every month is getting an interest free loan every month.

I understand your point, but one could argue the fact of having to keep track of your cc account to make sure you do not spend more than your income provides on your cc. Another thing you will still have to keep track of in addition to your bank account. And he statement of an interest free loan really shouldn't matter, unless you don't have the money ahead of time to pay for things....

I don't feel the need to keep track of anything other than looking at the CC statement, checking, and savings once per month.

The people I see monitoring their balances daily are the ones using debit cards. I understand why. I would never write checks on the same account that I made debit card purchases. Too easy to screw up and have added fees.

I do have a debit card but have never used it. I am considering using one account to write checks and another account for debit card purchases. That is the only way I would ever use a debit card. Even then I would keep a high enough balance that there is no threat of overdrawing the debit card account. But that account doesn't pay interest so I would be loaning my money to the bank for free.

As for the interest free loan comment. My money sits in my account collecting interest while I use the CC funds for free.

I am not telling anyone what they should do, just informing that there are alternatives.