Paying off one credit card with another to earn points?

[Shwa Girl]

Research shows that people who use credit buy more. People who use cash buy less, since there is only so much money. When it's gone, it's gone.

A healthy respect for cash avoids having your cash lost. Planning a shopping trip or an outing before going, and allocating how much cash will be spend, helps in budgeting.

Taking only the amount of cash you will spend helps to curve impulse buying. Taking cash only helps especially when on a fixed budget.

The best use of a credit card is to see the card for emergency purposes and for specific allocated purchases. Also saving the money for large purchases, before putting the purchase on credit, helps to increase the amount of available cash in your bank account.

Just my opinion.

[PurpleBunny89]

Research shows that people who use credit buy more. People who use cash buy less, since there is only so much money. When it's gone, it's gone.

A healthy respect for cash avoids having your cash lost. Planning a shopping trip or an outing before going, and allocating how much cash will be spend, helps in budgeting.

Taking only the amount of cash you will spend helps to curve impulse buying. Taking cash only helps especially when on a fixed budget.

The best use of a credit card is to see the card for emergency purposes and for specific allocated purchases. Also saving the money for large purchases, before putting the purchase on credit, helps to increase the amount of available cash in your bank account.

Just my opinion.

Again like I said before I completely disagree with this. I use my CC all the time and I spend LESS than if I were to use cash. Cash doesn't run out if you are me. If the cash in my wallet runs out then I just go to the bank and withdraw more. And more. And more, and more. Untill my savings account is completely depleted and my $1000 OD protection is gone too. It sure would take a very long time for the amount of cash I have in my account to completely run out. Whereas with my CC I have a limit. If I hit that limit my card gets declined. My CC limit is like 1/10th of the amount that I have in my savings account.

I have a healthy respect for cash, but keeping track of 3 $20 bills is okay. But then I use some, and I get back 5's and change. Then I use more and I'm given more change and more 5's. Then my wallet is fat and very heavy and I can very easily loose a few dollars when pulling out money from my wallet or going in to put a receipt in, etc. So yes, one card vs. 3+ bills and 50+ coins is much easier to keep track of.

I am on a fixed budget and I can 100% guarantee to you that if I took cash my budget would go straight out the window. Like I keep saying, cash doesn't help me because if I need more I can just keep going to the bank and withdrawing till my heart is content (basically) whereas once my CC is maxed its maxed.

Using my CC for 99% of purchases helps increase the amount of cash in my bank account.

As well, using my CC as opposed to cash is helping me build (good) credit which will benefit me later in life. Cash can't do that.

The only way I can see your point of view as being valid is if someone is bad with money and can't control themselves. I don't have that issue so what works for me is not using cash.

[PurpleBunny89]

On the way to the mailbox just now I found $0.13

I live in an apartment building in which I don't have to go outside to get my mail.

So this is my point as to why cash is hard to keep track of. Sure its only $0.13 (two nickles and three pennies) but thats 5 coins this person lost. And while thirteen cents isn't a lot I'm sure it adds up over a year.

[momof5boys]

On the way to the mailbox just now I found $0.13

I live in an apartment building in which I don't have to go outside to get my mail.

So this is my point as to why cash is hard to keep track of. Sure its only $0.13 (two nickles and three pennies) but thats 5 coins this person lost. And while thirteen cents isn't a lot I'm sure it adds up over a year.

This is exactly why we consistently remind our boys that small amounts add up...don't go to Tim Hortons once a day for coffee and you save at least $700 per year!

We also encourage them to save their money earned from their paper route....they have to fund their own university costs and, believe it or not, the first semester is paid entirely with their bits of money earned from delivering the local paper when they were young.

This past year we took a trip to visit family in Europe. People are astounded that we went with two of our kids because I am a stay at home mom and my hubby's salary is in the low income bracket. I tell such people that if my hubby didn't take his lunch to work each day, we wouldn't not have gone. Why don't people get it....just brown bagging lunch saves nearly $2000 per year!!!

[macw1960]

I know this is not answering your question but some bills can be paid with a CC.

I use my PC Master Card to pay my Bell phone bill and I earn PC points. Every little bit helps me out.

For the record, I carry no cash and pay off my CC in full every month as I earn PC points. I also don't over spend as I know my budget inside and out.