Do you have any upcoming big bills? Well, you should consider putting them on your credit card. There are many advantages of using your credit card to settle big bills, especially if you know you will be able to repay them without defaulting. In this article, we are going to look at some of those benefits.
Credit Card Score
Using your credit card to settle big bills such as your rent, car payment or other similar debts helps you to raise your credit card score. In turn, you will be able to use it to access funds conveniently, such as when you are low on cash. That works best when you know you will be able to repay the debt before the grace period is over.
Credit Card Limit
Furthermore, a higher credit score gives you some advantage, which you can use to ask for an increase in your credit card limit. Your credit card issuer will be willing to increase your limit if you have been repaying all your credit card debt on time. Since Big Bills such as your car payments are something you have planned for, you should use them to better your credit score.
Earn Some Cash Using Your Credit Card
Some credit card issuers will be happy to reward you with a cash bonus every time you make a timely payment of your credit card debt. However, you should only use a reward program that will not place a limit on how many miles or points you can earn in a year. Furthermore, it would be essential to know when your points are going to expire. Otherwise, you may lose the points you gain before you get to use them for the next big purchase.
We hope that you found this article on how to benefit from using your credit cards to pay big bills has been informative. Some of the big bills that we recommend you put on your credit card are car payments, rent, and other big debts such as your mortgage payments.
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