U.S. credit card debt jumps 18.5% and hits a record $930.6B

Re:U.S. credit card debt jumps 18.5% and hits a record $930.6B by dahfizz on Friday February 03, 2023 @02:05PM (#34646297)

Just put it on autopay. Once a month the whole balance gets paid off.

Does your arbitrage strategy really make enough money to make it worth it? Personally, I am not going to stress about a few extra bucks by leaving the money in a 3% HYSA for an extra week. That kind of micro-optimization is fun for some people but I just can't be bothered.

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Re:U.S. credit card debt jumps 18.5% and hits a record $930.6B by notch898a on Friday February 03, 2023 @02:09PM (#34646344)

I mean it doesn't take me any more or less time to pay it one day vs the other. Why not make basically an extra free $60/yr if you're carrying aroudn $2k in balances? For the median worker that's basically an extra couple hours of wages for no difference in workload.

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Re:U.S. credit card debt jumps 18.5% and hits a record $930.6B by dahfizz on Friday February 03, 2023 @02:33PM (#34646633)

Yeah, that makes total sense. For me, the extra mental of thinking about when to charge something and when to pay it off just isn't worth $60/yr.

Counter-factually: If autopay didn't exist, I would gladly pay $5/mo to have all my bills paid automatically.

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Re:U.S. credit card debt jumps 18.5% and hits a record $930.6B by sshine on Saturday February 04, 2023 @05:51AM (#34653461)

I’m in the same boat.

I’d love to care about $60/year, but I waste more money on under-utilized subscriptions. Not saying it’s an either-or, but if I can work to earn $60 more, I’d probably rather do that than save $60. :-)

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