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In the US most things are best paid with a credit card except for the biggest costs because it’s considered a liability to spread bank account info around too m
by jwells89 3y ago
In the US most things are best paid with a credit card except for the biggest costs because it’s considered a liability to spread bank account info around too much (banks generally aren’t too helpful when a breach occurs, whereas credit card companies will happily wipe away fraudulent charges), plus you’re missing out on points.
The only thing I had to change over when switching checking and savings to a different bank was which checking account my mortgage payments were getting pulled from.
- seanmcdirmid 3y agoAmerican here. Almost all of my monthly payments for utilities, mortgage, daycare, car payment, etc...those are all direct funds transfers. Using a credit card would be too expensive for those. Some payments only occur via credit card (internet service, and until recently, T-mobile cell phone service, though they now accept direct fund transfer for that). If I changed bank accounts, I'd have to untangle a bunch of monthly bills to a new account.
- jwells89 3y agoFair. I don't have a car payment or children at this point which are the two big other costs where credit cards definitely don't make sense. A bit surprised on utilities though. Nowhere I've lived on the west coast has charged a service fee for paying electric, gas, water, phone, etc with a credit card.
- seanmcdirmid 3y agoThat's true. I could pay might electric bill without a fee. https://utilities-self-service.ebill.seattle.gov/SeattleUtilities/ https://utilities-self-service.ebill.seattle.gov/SeattleUtil... Even PSE doesn't fee it. I guess why I bothered with checking account is that my credit cards expire far more often than I change bank accounts, I had a nasty fee once from Comcast because I didn't update my auto pay credit card in time.