Wise Bread has an interesting post detailing 7 reason why one of their writers uses her credit card for everything. She finds it a useful tool for maximizing efficiency. Everything is all in one place! If you don’t carry a balance and are good with a budget, why not use a credit card as an organizational tool?
It’s great for accounting and spending reports. Since I don’t dole out cash, or make purchases on my debit card (and I rarely use cheques), all my monthly spending is nicely bundled into one report: my monthly credit card statement. Not only that but my current credit card of choice actually categorizes my spending for me, so at a glance I can see how I’ve spent my pennies for the month and year-to-date.
I don’t need to carry cash. Trips to the bank machine are few and far between, as $60 can last months depending on my spending needs.
Automated billing is great. Cell phone bills, utilities, cable, you name it. If I can sign up for automatic billing, I do. It doesn’t mean I don’t look at each carrier’s statement to ensure the charge is correct. But it does mean that on a monthly basis I don’t have to worry about paying any bills (other than my credit card!) – they’re already paid.
Do you use your credit card this way?
Top Seven Reasons why I use my Credit Card for Everything [Wise Bread]