Reader Gopal asks,
I can see my total credit card dues over the Internet. Can I pay off these dues even before I receive a statement from my bank?
Sure. You can. In fact, I follow this policy [and I’d advise you to] — each time I use my credit card, I wait for the transaction to get posted and pay it off immediately. My credit card statement has a Rs 0.00 due each month.
[sniplet tip tuesdays]
Well, I have a question — Then why not simply use your debit card then? Saves you the hassle of paying each time you swipe your credit card.
Couple of reasons. One, you need a credit card for hotel/airline bookings. Two, the reward points. If you have the discipline to pay your credit card dues on time, the reward points can be exchanged for some pretty useful stuff. Another plus: one of my credit cards gives me a free movie ticket for every ticket that I purchase (@ PVR).