ironic as hell

financebuzz.com/pay-bills-with-credit-card

4 reasons paying bills with a credit card is risky
The handful of reasons to pay bills with a credit card are tempting, but there are also pitfalls associated with using credit for your monthly bills.

1. Extra fees
The ease of paying bills using a credit card can come at a cost. Some service providers charge a convenience fee to use a credit card in order to pass on their credit card processing fee to consumers. For example, as of May 2019, paying your federal taxes with a credit card will add an additional 1.87% to 1.99% fee to your total amount due, depending on the payment processor you choose.

2. Racking up interest
If, for any reason, you’re unable to pay off your credit card bill in full within its statement cycle, you’ll accrue credit card interest on top of your monthly expenses. Although this risk can be eliminated by simply paying your statement balance entirely each month, life happens and your bills are treated like any other transaction that rolls over into the next payment period.

3. Accumulating debt
Credit cards have a reputation for being a dangerous tool when used without control. If you’re already struggling to get out of debt and can’t repay your credit card balance in full each month, adding your bills to your account will only worsen your financial stability.

4. Credit utilization ratio might rise
Depending on your credit profile, paying bills with a credit card might hurt your credit utilization ratio. Your credit utilization ratio is the amount of credit you’ve borrowed compared to the amount of credit you have available. Putting your bills on your credit card increases your credit utilization. Considering that 30% of your FICO credit score relies on this ratio, it’s best to keep your account balances as low as possible.

Well obviously if you’re not going to pay you shouldn’t …but you made it seem like it’s not literally a fundamental common use of a CC to do that

that being said, bro is aggro as hell ima hop off this convo lol

Guys I think we should try LOVE itt.

CC are risky , duh. You have to pay no s*** 😂

i personally dont do it because bills are very easy to forget, you put a few bills on your CC and spend some extra cash u have next thing u know ur in big debt and you dont have reserve cash to pay it off

If he didn’t pay his bill with CC it’s not like that money would magically appear. He just wouldn’t have water in his house LOL

Dawg you just ignored the 5 benefits in the article too

5 advantages if you pay bills with a credit card
Digital payments offer many benefits, especially if you’re a savvy and responsible credit card user.

1. Automatic payments
Placing bills on autopay through your credit card offers a few advantages in itself. For example, if you’re juggling multiple due dates, it’s easy to miss a payment deadline. Using your credit card for monthly bills helps you avoid a late fee (and possibly keep the lights on). This is especially helpful for monthly bills that are a fixed amount, like a gym membership.

2. Earn points or rewards
According to Experian, 42% of consumers use a credit card to earn rewards points. As more rewards programs offer high-value perks for purchases put on your card, adding recurring bills to your card activity could earn you more rewards points faster. With all the rewards credit cards that are available from the various credit card companies, you could choose whether you want to earn cash back or travel rewards.

3. Meet sign-up bonus requirement
Speaking of rewards points, if you recently opened a new rewards card that’s offering a sign-up bonus promotion, putting your bills on your credit card may help you qualify. By putting your monthly bills on your card, you could meet your card’s minimum spending requirement sooner, giving you a better chance at maximizing your card’s bonus.

4. Track your spending
By putting your bill payments on your credit card, you’ll see all incoming and outgoing transactions and have a record of your payments. Your credit card account also gives you quick access to your current and historic spending activity, which is helpful when planning a budget.

5. Extra purchase protections
Many cards are known for offering exceptional consumer protections, like zero liability for fraudulent charges. As soon as you identify suspicious activity on your credit card, such as a bill payment made for an incorrect amount, your card issuer can help you rectify the error.

This is not the case when you use other forms of payment. You have minimal safeguards available if a check or cash payment is lost or stolen while in transit. And a credit card is a great option if you're looking to stop using a debit card. Debit cards open up many risky opportunities for fraud to happen.

nigga if you dont pay off any debt its a bad idea

im sorry its been a long day

It’s 2pm

It’s okay

but time and time again niggas do this anyway. thats why i dont f*** with credit cards

Just put that s*** to automatically pay off your balance every month and your gucci

Free money from cashback and points

You wanna know whats more important than throwing away money in a strip club?

Credit

it's funny how a simple concept like paying back credit cards can be misconstrued into a seven page thread

just my two cents

Rocafella y'all

LMAOOO

You will. Just gotta buckle down. Get those grants, be extremely frugal and increase your income if possible by picking up another job. Good luck homie

Anything under 1k you should try and pay that off immediately.

Better start dropping them draws

Holy

Pray for OP

we need a personal finance thread in life szn lol.
or everyone should just check out bogleheads and some books and call it a day