AUTO PAY Question

Anonymous · ‎08-19-2017

Hey everyone,

I had a quick question. I've never used auto pay in fear that the system would submit payment twice (manually by me, then when auto pay kicks in). Can so someone ensure me that auto pay doesnt do this?

For example, If I set auto pay to pay the mininum for back up on the payment due date of 15th every month, but I pay earlier say the 10th in FULL. Auto pay wouldnt credit my account again on the 15th? Even though I already paid earlier?

I basically want to set up auto pay for all my accounts just as a back up, but want to make sure when I pay earlier than the due date that my auto pay wont kick in causing a double credit/payment. I would only want auto pay to kick in for a back up situation whrre no payment was made and it's the due date, otherwise anything paid earlier than the due date would cancel out the auto pay right?

bz386 · ‎08-19-2017

It depends on the bank. Most do it like you describe (Chase, Amex, Citi, Discover). Some, like Barclaycard, will still take out the full statement balance, unless you cancel that specific payment.

Anonymous · ‎08-19-2017

@bz386 wrote:
It depends on the bank. Most do it like you describe (Chase, Amex, Citi, Discover). Some, like Barclaycard, will still take out the full statement balance, unless you cancel that specific payment.

Citi recently changed their auto pay procedures. Now any manual payment you make will not cancel out the auto payment.

bz386 · ‎08-19-2017

I believe Citi only changed the behavior of minimum pay, i.e. If you have setup automatic minimum payment they will take it out even if you make an additional manual payment. The way I read their message it does not affect automatic statement balance payment. But then I no longer have a Citi card so I can't confirm myself.

Anonymous · ‎08-19-2017

Be careful with Cap One, I once paid the full statement amount plus some posted charges prior to due day leaving exactly what I wanted to go on my next statement, and even though the minimum amount due went to $0, Cap One executed auto pay on due day anyway grabbing the rest of my posted charges.

Gmood1 · ‎08-19-2017

I can confirm Citi will not initiate autopay if statement balance is paid in advance. On the other hand with Capital one. It's best to let the autopay handle everything. If not you might pay twice. As one of the other posters stated Barclays will goof up the payment as well. Personally I let autopay do its thing for the most part. I have only two CCs that don't have autopay..I wish they did. With 28 active accounts autopay has done what it is supposed to. No late or missed payments presently.

Anonymous · ‎08-19-2017

A lot of mixed answer. Reason why im so shaky about setting up auto pay lol.

Gmood1 · ‎08-19-2017

@Anonymous wrote:
A lot of mixed answer. Reason why im so shaky about setting up auto pay lol.

Lol...allowing the lender to autopay is the safest bet. Relying on memory, you are bound to eventually forget. I've seen so many members here upset because they missed a payment. Not because they couldn't pay it, but because they honestly forgot. A 50 point hit and 2 plus years of anguish for trying to micromanage a couple of extra points, just isn't worth the trouble IMO. You have nothing to be shaky over. Let those folks take their money. If they screw it up..it's on them.

Anonymous · ‎08-19-2017

@Gmood1 wrote:
@Anonymous wrote:
A lot of mixed answer. Reason why im so shaky about setting up auto pay lol.
Lol...allowing the lender to autopay is the safest bet. Relying on memory, you are bound to eventually forget. I've seen so many members here upset because they missed a payment. Not because they couldn't pay it, but because they honestly forgot. A 50 point hit and 2 plus years of anguish for trying to micromanage a couple of extra points, just isn't worth the trouble IMO. You have nothing to be shaky over. Let those folks take their money. If they screw it up..it's on them.

Very true. I'll set auto pay for the minium payment on the final due date. I always pay earlier, but ill keep that there as back up. Hope it doesnt deduct payment twice lol........

UncleB · ‎08-19-2017

@Anonymous wrote:
@Gmood1 wrote:
@Anonymous wrote:
A lot of mixed answer. Reason why im so shaky about setting up auto pay lol.
Lol...allowing the lender to autopay is the safest bet. Relying on memory, you are bound to eventually forget. I've seen so many members here upset because they missed a payment. Not because they couldn't pay it, but because they honestly forgot. A 50 point hit and 2 plus years of anguish for trying to micromanage a couple of extra points, just isn't worth the trouble IMO. You have nothing to be shaky over. Let those folks take their money. If they screw it up..it's on them.
Very true. I'll set auto pay for the minium payment on the final due date. I always pay earlier, but ill keep that there as back up. Hope it doesnt deduct payment twice lol........

This is actually what I'm considering myself.

I've never done auto-pay before (I like to manually control my payments) but the more I think about it, there's little to lose by setting up auto-pay for a minimum payment amount. I figure the worst-case scenario is that I PIF and the auto-pay still takes out a $35 minimum payment, which I can simply charge against the following month.

It's not 'perfect' but it's good for peace of mind, especially for those of us who don't have anybody to take care of things should something unexpected happen (accident, sickness, etc.).