Wednesday, May 26, 2010

Pay bills with credit cards.. Not.

Not a good idea. The credit card companies are pushing consumers to pay their bills using the cards. Either a payment can be sent directly from the credit card bill pay online or the vendor can draft the credit card for the payments. I've used both and found that I lost control over my credit card balances. Several months past and my balance had ballooned because my car payment, utility bill and cell phone bills were being paid automatically by the card. It is definitely a convenient service but it's a sure way to lose control over your credit card balance. Keep it simple. Don't get suckered into using a credit card for this purpose. Pay your bills using your checking account online bill pay.