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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Question about cash back cards Date:  10/12/2012  2:39 PM
Author:  ed1007 Number:  306051 of 312161

>>>It isn't unusual for regular expenses (insurance, utilities, food) to be charged. If only one card is being used, it doesn't take being upper middle class to reach the limit. Also, those that travel for business often have to use their own card and file for reimbusement.<<<

I do this but my organization requires the use of the company card for plane tickets. Booo. Luckily, I do not travel that much any more. My wife and I put everything we spend on AMEX blue; groceries, fuel, misc. purchases, cell phone bill, etc. The only limitations are if the merchant does not take AMEX, I use another card or pay cash, or if the merchant charges a surcharge for using a credit card, I go somewhere else.

We also have a yearly budget broken down into months, so I know about how much will go on the card each month. Last Jan. I paid the amount due + the expected amount to be charged over the next month. I now have scheduled payments of ~1/2 the average budgeted expenses sent automatically twice a month on the day after our paychecks are deposited, and the actual bill payed in full automatically when the statement is issued. That last check is usually nothing or a few tens of dollars as I included the higher spending months of November and December in the calculation I think of it as levelizing all my expenses.
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