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Our Credit Card Usage - Your Input?

November 8th, 2011 at 12:52 pm

I have been using the Chase Freedom credit card for a couple of months now, paying off the balance every two weeks or so.

So far, it has gone okay. However, I somehow feel that I am overspending whenever I use it, even though it is for budgeted items. Also, the way Chase updates their account statements online has lead to some issues. It's also a hassle to manage two accounts as if they were one.

So we are thinking about not using it for everyday purchases anymore. The 1% on all purchases is great, and the 5% categories is pretty awesome too. But, for some reason, it feels like it is taking too much effort to manage. I don't know... It's hard to explain, really.

However, using it has - I believe - helped to raise my credit score. I am now only 11 points from entering the 'Excellent' credit score range.

What do you guys do with your credit cards?

4 Responses to “Our Credit Card Usage - Your Input?”

  1. CB in the City Says:

    I put all my variable spending on Discover and pay if in full every month. My fixed bills are automatically withdrawn from my checking account.

  2. MonkeyMama Says:

    We charge anything and everything, and pay off the balance at the end of every month. It works well for us - tons of rewards - and very convenient. But I don't find we spend more with credit than cash. (The two are just equal in our minds - we treat our credit cards like debit cards).

    BUT, that said, everyone is different and you have to do what works for you. If you find yourself spending more, what is the point of the reward?

    If it is too much effort to manage, then why bother?

    If you want to work on your credit score, charging one item every month, and paying it off monthly, should get you to the same end.

  3. disneysteve Says:

    We charge everything and pay it off in full each month.

    What do you mean by "it is taking too much effort to manage"? What is it that you feel is taking so much effort?

    Try this. Just use the credit card for fixed recurring monthly expenses like insurance premiums, cable, internet, cell, etc. - things that you can't and won't overspend on since they're the same every month.

  4. Frgal Says:

    I'm not sure exactly... It's like a phenomenon. Not sure how to explain it.

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