Re:Autopay Is Making Us Worse at Managing Credit-Card Bills
by Sohcahtoa82 on Monday October 09, 2023 @01:38PM
(#37823017)
In the USA, it's very common for credit card companies to provide rewards or rebates based on your spending. Meanwhile, interest on purchases doesn't begin accruing until 30 days after the purchase.
This means using a credit card is free money. I spend $100 on my credit card, I get $1-3 back depending on what I'm buying, and if I pay in full on my next statement, I pay $0 in interest.
This means using a credit card is free money. I spend $100 on my credit card, I get $1-3 back depending on what I'm buying, and if I pay in full on my next statement, I pay $0 in interest.