Author Topic: how to auto pay your credit cards?  (Read 10113 times)

Baylor3217

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how to auto pay your credit cards?
« on: November 02, 2013, 10:06:51 AM »
I pay my credit card in full every month.  It has an auto-pay option, but only allows me to specify an amount.  Since the balance amount varies each month this isn't useful to someone trying to pay in full, which, of course, is their goal.

Are there ways to achieve this?  Would I have to go through a 3rd party system somehow that gives them my password, etc?


arebelspy

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Re: how to auto pay your credit cards?
« Reply #1 on: November 02, 2013, 10:21:23 AM »
A lot of credit card auto pay options allow you to pay the full bill (without you having to specify what it is that month).  Does your credit card support some sort of eBilling program that will link up to your checking account?
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Baylor3217

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Re: how to auto pay your credit cards?
« Reply #2 on: November 02, 2013, 10:33:00 AM »
A lot of credit card auto pay options allow you to pay the full bill (without you having to specify what it is that month).  Does your credit card support some sort of eBilling program that will link up to your checking account?

ill check.  what i've seen on the site so far lets me designate an amount to be paid each month which seems more for people just trying to make the minimum on time or something generally less than the entire balance.

ichangedmyname

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Re: how to auto pay your credit cards?
« Reply #3 on: November 02, 2013, 10:35:25 AM »
A lot of credit card auto pay options allow you to pay the full bill (without you having to specify what it is that month).  Does your credit card support some sort of eBilling program that will link up to your checking account?

ill check.  what i've seen on the site so far lets me designate an amount to be paid each month which seems more for people just trying to make the minimum on time or something generally less than the entire balance.
Mine does the same thing. I'm trying to figure out if I can just set up bill pay from my Chase checking account.

curler

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Re: how to auto pay your credit cards?
« Reply #4 on: November 02, 2013, 05:04:59 PM »
This sounds surprising that they would be set up that way.  I'd recommend calling the credit card company to ask about this if you aren't able to find anything else on the website.

madage

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Re: how to auto pay your credit cards?
« Reply #5 on: November 02, 2013, 09:56:11 PM »
I'd recommend calling the credit card company to ask about this if you aren't able to find anything else on the website.

Yes. The only company I've dealt with that didn't have an option to pay the full balance was FIA Card Services. The option was available by setting it up with a representative on the phone.

vern

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Re: how to auto pay your credit cards?
« Reply #6 on: November 02, 2013, 10:39:00 PM »
I have a Capital One card that I use when travelling and I'd like to do the same thing.

But I think their version of autopay is to only pay the minimum due, not the entire amount.  That won't work!

Rural

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Re: how to auto pay your credit cards?
« Reply #7 on: November 03, 2013, 05:27:54 AM »
Check your bank's online billing. I was able to get ebills that way and then pay the full balance automatically. I still review for erroneous charges, though.

Trirod

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Re: how to auto pay your credit cards?
« Reply #8 on: November 03, 2013, 05:53:10 AM »
I have a Capital One card that I use when travelling and I'd like to do the same thing.

But I think their version of autopay is to only pay the minimum due, not the entire amount.  That won't work!

Vern - I have a Capital One card also, and have it set up to Autopay the full balance every month.  I think that option is on their website I.e. No need to call customer service.

vern

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Re: how to auto pay your credit cards?
« Reply #9 on: November 04, 2013, 04:59:38 AM »
Thanks Trirod, I'll get on it!

Koala0924

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Re: how to auto pay your credit cards?
« Reply #10 on: November 04, 2013, 05:52:44 AM »
Check your bank's online billing. I was able to get ebills that way and then pay the full balance automatically. I still review for erroneous charges, though.

My bank has this same option; I receive my bill electronically and my bank automatically "pushes" the payment to the credit card rather than the credit card company "pulling" it from my bank account.

Rural

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Re: how to auto pay your credit cards?
« Reply #11 on: November 04, 2013, 06:31:30 AM »
Check your bank's online billing. I was able to get ebills that way and then pay the full balance automatically. I still review for erroneous charges, though.

My bank has this same option; I receive my bill electronically and my bank automatically "pushes" the payment to the credit card rather than the credit card company "pulling" it from my bank account.

Right. I'm much more. Comfortable with the "push." I also have the option of auto paying the minimum and manually adding on the rest to cover the balance, which I did for a while with a card I no longer have, which I'd had a fraudulent charge on.

cynthia1848

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Re: how to auto pay your credit cards?
« Reply #12 on: November 04, 2013, 07:50:52 AM »
I have a Barclays card and a Discover and they both automatically get paid the balance from the last statement.  That was an option on the card's site, not my bank's.

Paul der Krake

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Re: how to auto pay your credit cards?
« Reply #13 on: November 04, 2013, 08:16:22 AM »
Same thing here, all my cards have the option. However, I think it's good practice to take one day every month to pay your bills manually, which also lets you review all your charges at once. YMMV.

Nords

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Re: how to auto pay your credit cards?
« Reply #14 on: November 04, 2013, 08:16:38 AM »
Maybe it's a little hard to set up on a website, but it'd definitely worth calling the card company and asking them about automated monthly payments of the balance.

USAA does it through their website, although it's a little difficult to set up.  I ended up phoning to figure out how to set up the USAA website to pull the payment from my credit union.  The Costco American Express website had no problem setting up automatic monthly balance payments-- just give them the financial institution's routing transaction number and checking account number.

One minor surprise was that the "balance" is the balance at the date the card company pulls the payment, not the balance on the bill.  If there are credits between the date of the bill and the date of the payment then the balance is smaller and the payment is lower.  (But it's still the full balance.)  Of course if you're pushing from a financial institution then it'll probably pay the billed balance, not the due date's actual balance, and if you had credits then there might be an overpayment.

dadof4

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Re: how to auto pay your credit cards?
« Reply #15 on: November 04, 2013, 11:36:39 AM »
All of my credit cards have autopay. CITI, AMEX, Chase, BoA, Discover etc.

Those that didn't were stashed in a drawer.

seattlecyclone

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Re: how to auto pay your credit cards?
« Reply #16 on: November 04, 2013, 04:50:52 PM »
I have accounts with Chase, Citi, and Barclaycard, and American Express. All of them let you set up autopay through their website. They all offer the option to pay the full amount shown on your last statement (the only sane option for someone who isn't in a debt emergency) or the minimum payment (only do this if you're in a debt emergency and have a higher-rate card to pay off first, or if the card has a 0% intro rate). All except Chase also offer the option to pay a fixed amount each month.

There are plenty of nice rewards credit cards that make it easy for you to automatically pay your full balance each month. If your card isn't one of them, you should seriously consider switching.