Is it a good idea to open a creditcard acoount to pay off bills?
No. That is, I’m afraid, a really really bad idea. Here’s why. Lets say you have bills totalling $700. You decide to take out a credit card at 19% interest to pay those bills. If you have that $700 balance on the card for a year, that’ll add $133 to what you owe. That is the interest you’ll pay for having the credit card and carrying that balance on it. Just pay your bills and don’t rely on money you don’t actually have to pay your living expenses. You should set aside some money out of each week’s pay to cover your bills. You should consider disconnecting any services you don’t really need (like internet or phone at home) if you can’t cover the bills. If you can’t pay the bill, you can’t afford it. If you have an outstanding bill and you have not paid it, then chances are lenders will see you as a bad risk anyway, and you’re unlikely to get a credit card. If you can’t pay your living expenses bills, a lender is not going to trust you with their money. You should start a ‘savings’ acco
