Originally Posted by
TejanoTrackie
I was using my debit card for everything, so the fraudulent charges were made directly to my checking account. Since that account has a lot of autopays, it could have resulted in an overdraft situation if I hadn't caught it in time. Anyway, I went to the bank today, and will be getting a true credit card this time, and will only use the debit card for ATM or cash back type transactions. Plus the credit card is one of those Cash Rewards types, so I will actually save a bit on purchases. The only downside is that I have to remember to pay my monthly card bill on time to avoid late fees. Interestingly, it has a promotional 0% APR for the first year, so I can just pay the minimum due each month for the first year w/o penalty.
Yeah, the debit card is trickier. One nice thing with the credit card, they wipe it clean immediately and you don't have to wait for the bank to sort it out.
We have an airline cc, so we get airline points. Pay for everything, including bills with the cc, and then have the cc paid directly from the bank account - all setup automatically. It's nice because you never have to worry about bills and you're racking up free airline miles in the process. You just have to have a bit of a nest egg to make sure you're not overspending. So you do still have to keep track of the finances a bit, but at least you never have to worry about paying a bill late.
Originally Posted by
Muffin Man
I'm still young, and have no experience, but isn't that generally a bad idea? It'll just all bite you in the ass once that year is up, wouldn't it?
Actually, I'd recommend doing this anytime you get the chance. Paying the minimum payment (on time) on a card that has 0% apr for 12 months, will help build your credit more so than just paying off the card each month. It seems silly, but it shows the banks that you are responsible and pay your bills on time. Then just make sure to pay it all off at the end and you won't have any interest.