Quote:
Originally Posted by justjim
So some (not all) of the merchants charge 2% if you use a credit card. But the credit card company pays me back 2% (sometimes more) for using it. It’s a wash…. In addition, I get to “float” my cash for several days a month too. Wait, not so fast, I’m still going to use my credit card and pay it off each month.
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I only charge my purchase and bills to my credit cards and use cash if I have to. The benefits, for me, far outweigh the costs. Most billers don’t charge me for using my card. This year I’m staying at a hotel for 5 nights that would cost me in the mid 300 dollars per night and it’s costing me zero and I still have points available if I choose to use them.
The fee that the credit card companies charge are paid by the merchant Not by me. Sometimes I run into a request for cash and a savings of 2 or 3 percent, but that is rare. I’ll stay with using credit over cash if I can.