Paying for housekeeping on credit card.

mountainofdebt

I use my tesco cc like a debit card......pay with the tesco cc and then transfer the amount spent to a savings account.

When my cc bill comes I know I have the money to pay it off in full

No_6

Limana68

If you can not budget using a Debit card and go overdrawn !
then using a Credit card, even with cashback/points/awards etc will not help,
you will still not be able to pay off all your total spending and end up paying interest.

You could use a 0% spends card, which just prolongs the time before
you will be charged interest, unless you know what you spend.

Get Microsoft Money, set up all your accounts with spending details
dd's/ monthly bills etc and enter all your daily spends and even what
you think you may spend.

Great for finding out how much you have spent, about to spend,
so that you can budget and then take advantage
of credit cards for making a profit.

Regards
6

roswell

We use egg money with a DD to pre pay the budgeted shopping bills they spend on the egg money card. Get 1% back and as its in credit all the time its actualy makeing us 4% interest for any funds still in the account at the end of the month, Should get a free to the back end of this year :-)

Juni_3

roswell wrote:

We use egg money with a DD to pre pay the budgeted shopping bills they spend on the egg money card. Get 1% back and as its in credit all the time its actualy makeing us 4% interest for any funds still in the account at the end of the month, Should get a free to the back end of this year :-)

As someone else pointed out you could get 1% cashback and 5% interest.

I currently get 2% because of an introductory offer on my card and 5% while the money sits in my A&L account.

System

I too use my credit card to pay for my household expenses. However you have to be careful that you dont spend more than you have in the bank. When i have spent money on my card, i come home and move the cash from my bank account into an online saver. When the bill is due to be paid, i just transfer it back and pay it off. Doing that gives me a months interest on the money saved.

asharon

i use my egg card to buy shopping etc and then at the end of each day i transfer the amount spent to the card. that was y it is paid off and if i spend too much i make my account go overdrawn so i can be realistic about my finances.