Re:Why Don't People Manage Debt Better?
by tunesmith on Friday February 19, 2016 @04:33PM
(#11136799)
One problem: Debit cards are automatically paid down at zero all the time. None of the credit cards I've ever had have made it easy to automatically pay down to zero. You have to do it manually - you remember most of the time, then you're a bit late one month, and it's enraging. Credit card companies have every reason to make this difficult.
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Re:Why Don't People Manage Debt Better?
by lotsofpulp on Friday February 19, 2016 @05:31PM
(#11137225)
I've had credit cards since 2005, and at least 15 different ones, and they've all had an option to autopay online so that you don't even need to remember to pay your bill. I highly doubt any major bank issued card does not have an auto pay full balance option.
Card issues make crazy amounts just in the transaction fees merchants pay, they have no reason to dis incentivize people from using them for as many purchases as possible.
> None of the credit cards I've ever had have made it easy to automatically pay down to zero. You have to do it manually
My bank's electronic bill pay automatically pays my full credit card bill, every month, without fail. It's been doing that for at least a decade IIRC. Is this that unusual?