Good morning/evening/afternoon,
I recently decided that it may be better for me to put all my spending on a good credit card and pay it off every month with my checking’s account. I currently make about 70k a year and have a 750 credit score. I recently received my Capital One SavorOne card with a 10k credit limit and no annual fee, and it has between 1%-4% cashback on various purchases. Between the cashback and the numerous other benefits and insurances that come with making purchases with my card, would it be wise for me to use it as my main payment method, and just have the statement balance paid every month through my cash checking account? I cannot see a downside to this, I know what my income is, and I know what I can or cannot afford so it is not like I will be using the card any differently. I will use it the same as I normally do with my debit card, and I will still be able to pay it off and still afford to put money into savings.
I cannot really think of a downside. If anything, I can think of more downsides by paying everything with debit vs. me paying on credit and making a simple monthly payment to clear the balance while reaping the purchase protection and benefits. Do you all have any thoughts on this?
Submitted October 23, 2022 at 05:09PM by lonewulf66 https://ift.tt/sZtd7Hv
