When is my credit card payment due? Did I forget to pay them this month? Those are two questions you won't have to ask yourself when you only use cash, or a rewards debit card, instead of relying on credit cards for your daily expenses.
Credit card due dates are a pain in the butt, plain and simple, and unless you get free text or e-mail alerts as your due date approaches to remind you (as some credit card companies now offer), you could very well end up forgetting a payment... do this, and you could DEFAULT, meaning your interest rate will skyrocket to 29.99% APR or higher. Trust me, that sucks.
You never want to default. And you never want to miss a single payment.
But why should you have to worry about that to begin with? Don't be an indentured servant who has to remember when to pay the master(card). Use a debit card so that the money is withdrawn from your checking account immediately. And have your bank turn off overdraft protection, so that you will be unable to accidentally spend more money than you have available to you in the bank.
For me, avoiding credit cards and their due dates is about avoiding the risk of accidental default. But mostly it's psychological... I feel icky owing money to others, and having to remember to pay that money on THEIR terms and on their time. I prefer to make my own rules.
Information provided here for entertainment purposes only; not a substitute for a financial advisor's wisdom and advice. No guarantees or warranties whatsoever.
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