Well I have to admit, I’m about to use my credit card a heck of a lot more than I usually do – and with no signs of stopping. It also has nothing to do with Christmas either, I’ve actually saved some money for Christmas, want to know why?
RBC (my main chequing account bank) is about to launch an iPhone app which will allow me to pay bills via my phone. This may sound like an application that you’d only use for viewing balances or something – but I have an idea which seems to make sense (in my head at least).
Ever since I started budgeting and really getting a grip on my finances, I no longer spend money that I don’t know I’m spending. I watch my bank account daily, and also track my spending. So what I plan on doing, is pay everything with my credit card – and when I have two seconds, simply transfer the money from my bank to the credit card. Bill payments are free via RBC, so why not take advantage?
Which brings me to my next point.. why would someone want to go through this process? Easy.. Free Rewards!! I have an "Air Miles" Mastercard and I would have to guess that every year I get approximately $200 to $300 worth of free groceries just from whipping out the Air Miles card at Sobeys and also by my Mastercard purchases such as my home heating oil, some urban clothes, online purchases, etc.. Previously, I’d avoid using my Mastercard for most purchases as I didn’t want to use it if I didn’t have to, and sometimes I’d forget to make the payment immediately for the purchases I just made when I eventually did sit at a computer – this way I don’t have to!
Yes, hypothetically I could do the exact same thing now by using the web browser on my phone and such, but putting in all my login information and trying to navigate around on the tiny screen would be kind of a pain to do it on any regular basis, so I’m really looking forward to the launch of their iPhone app – I’ll be doing a full review of the application on the blog once it’s launched