Many credit card companies are offering benefits to credit card owners that choose to receive their bill electronically rather than a paper bill in the mail. While this is obviously a “green” alternative to receiving your bill, for many consumers it turns into a disaster.
Keeping Track of your Spending
When you are not receiving a paper bill, you do not have a hard copy of your spending. This could lead to consumers over spending because they don’t truly know what they have spent. A few days after you make a purchase, you likely forget about it. Then you find yourself charging something again and again. Before you know if you’ve reached your limit and you have a very large monthly payment.
Paper is Better
For many consumers, a paper bill is a better option. It allows them to see their spending habits and enables them to see just how much they need to pay on their best credit card in order to pay it down. In addition, seeing the paper bill makes consumers truly see the interest rate they are paying and any fees that they are being charged. For many people that piece of paper is a vital piece of information as it holds the key to their financial future.
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