Paying Electricity Bill with Credit Cards

Like a mortgage payment, the rent on your flat, or the council tax, the electricity bill is a priority bill. This means it must be paid in full, on time, and consistently or you will lose that which it provides: electricity. Most of us are very responsible when it comes to our bills and paying them, particularly the priority ones. Yet unlike the mortgage payment, rent or council taxes which only change when you relocate, the electricity bill is not always the same amount. It varies month to month depending upon how much power you utilize. In the summer months especially, the electricity bill can be double or triple the amount it is normally due to the need for increased air conditioning and refrigeration. And unless your income similarly adjusts, which for most of us it doesn’t, these months’ electricity bills can become difficult to pay on time, if at all.

Fortunately there is an option available for times when we cannot pay our electricity bills. The use of our best credit cards, those with the lowest interest rates particularly, can help buy us some time for making the full required payment. When we pay our electricity bill with our best credit cards, we give ourselves a bit of a loan: one in time and one in money. We satisfy the payment requirement owed to the electric company, and at the same time give ourselves the ability to make the payment at a later date when we have more money available. And whether or not you use your best credit card to do so will be irrelevant if you make the credit card payment within the grace period, thus avoiding any finance charge at all.

By using your best credit card to pay your electric bill, you are replacing the priority bill (the electric bill) with a non-priority bill (the credit card payment). This doesn’t make it any less important, it just means that you won’t lose your electricity (or any other priority bill, such as mortgage or rental lease) if you miss a credit card payment. When you do decide to use your best credit card to pay other bills, however, you should be fully aware of the financial implications involved in its use.

It is recommended that you research the Internet, or contact a financial company, for a complete guide to credit cards. This guide will list the best credit cards for your intended use. Depending on whether you would pay your entire balance off in one month, or over several months, will determine which card is the best credit card for you. The guide will also discuss the interest rates of the best credit cards. The guide can also determine which cards are the best credit cards to provide account protection, in the event you lose your job and can’t make a payment. This is important since it may be the reason you cannot pay your electricity bill in the first place. Exploring such a credit card guide is ideal, if for any other reason than it might show you that the credit card you thought was best for paying your electricity bill is not, in fact, the best credit card to use.

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