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Established Member
saggy1
Posts: 50
Registered: ‎07-26-2012
0

Best Time To Pay CC Bill???

If your pay period ends on the 15th when is the best time to pay? In other words, after the pay period you are given a certain amount of time to pay your bill. Do you want to pay right before the bill is due? Or do you want to pay right before your pay period ends?

 

THX

New Contributor
ComputerWizMaster
Posts: 74
Registered: ‎05-26-2011
0

Re: Best Time To Pay CC Bill???

I always pay my bills on the day they are due via auto pay. I see no benefit to paying them any earlier.

Feb. 2012: TU: 677 EQ: 647 EX: 666
Aug. 2013: TU: 729 EQ: 726 EX: 697
Goal 2013+: 720+ All Three
Valued Contributor
Crashem
Posts: 3,098
Registered: ‎01-26-2012
0

Re: Best Time To Pay CC Bill???

For fico score, paying outstanding balance just before statement date is ideal.   Otherwise just pay your statement balance by due date to avoid interest.

               LIMITS IN CARD DESCRIPTIONS
Regular Contributor
Middleswarth
Posts: 228
Registered: ‎08-31-2011
0

Re: Best Time To Pay CC Bill???


ComputerWizMaster wrote:

I always pay my bills on the day they are due via auto pay. I see no benefit to paying them any earlier.


What if something happens that delays the transfer?  It would suck to be late and incur the penalties because you waited 'til the last minute to pay.

Frequent Contributor
Cleanmachine
Posts: 396
Registered: ‎04-30-2008
0

Re: Best Time To Pay CC Bill???

I agree with Middleswarth.

 

I have had delays with my bank making scheduled payments because of one problem or another.

 

If I carry a balance I pay the day after statement cuts.

 

If I carry (zero) balance cards I pay in full three days prior to closing.

 

Waiting till the last minute on the due date can backfire.

 

Not worth the few extra pennies you may save.

 

Been there.

New Contributor
MrGoat
Posts: 158
Registered: ‎06-04-2011
0

Re: Best Time To Pay CC Bill???


saggy1 wrote:

If your pay period ends on the 15th when is the best time to pay? In other words, after the pay period you are given a certain amount of time to pay your bill. Do you want to pay right before the bill is due? Or do you want to pay right before your pay period ends?

 

THX


I pay mine on the same day every month.

I had my due dates changed on our cards to be due in the middle of the month and I make the payments before the 5th. This makes it easy to keep track of everything. I sit down one day a month and pay any CC's we owe on.

Since we use CC's to pay everything its pretty much the only bills we pay out of our bank account. The rent is the only thing we dont use our CC's to pay and the only reason I dont there is because of the surcharge for using credit.

 

EQ FICO 735 as of June 17, 2011
EX FAKO 767 as of April 3rd, 2012
Citibank($10,000@10.74%) Discover($5000) CapitolOne($4500)
USBank($3000) AMEX($2000) BOA($2000) NRAVISA($4000)
ChaseVisa($500)
New Contributor
ComputerWizMaster
Posts: 74
Registered: ‎05-26-2011
0

Re: Best Time To Pay CC Bill???

I don't see how this would be an issue. I schedule all of my auto payments at the CC bank's site. If I have an issue it is on them, not me.

Feb. 2012: TU: 677 EQ: 647 EX: 666
Aug. 2013: TU: 729 EQ: 726 EX: 697
Goal 2013+: 720+ All Three
Regular Contributor
Middleswarth
Posts: 228
Registered: ‎08-31-2011
0

Re: Best Time To Pay CC Bill???


ComputerWizMaster wrote:

I don't see how this would be an issue. I schedule all of my auto payments at the CC bank's site. If I have an issue it is on them, not me.


I doubt that is how it would work.  You may eventually prevail, but why chance it?  

 

While I do not PIF before the statement date unless I'm looking for new credit, I do pay well in advance of the due date.  They give you 24 days to pay.  I say do it in the first 10 and don't take a chance.  It could save you a lot of aggravation dealing with Peggy to get it fixed. :smileywink:

Frequent Contributor
iMacDrew
Posts: 350
Registered: ‎07-13-2012
0

Re: Best Time To Pay CC Bill???


Middleswarth wrote:

ComputerWizMaster wrote:

I always pay my bills on the day they are due via auto pay. I see no benefit to paying them any earlier.


What if something happens that delays the transfer?  It would suck to be late and incur the penalties because you waited 'til the last minute to pay.


That just happened to me actually, damn Pageonce, first time using it tried paying 4 days before due date which was Aug 10, payment still hasnt posted and their Outsourced CSR arent helpful at all.

Lender pulled 10-10-13
EQ Fico 715 | EX Fico 714 | TU Fico 703
New Contributor
ComputerWizMaster
Posts: 74
Registered: ‎05-26-2011
0

Re: Best Time To Pay CC Bill???

Why wouldn't it work? Unless the payment is returned for Non-Sufficent Funds any processing problem is on them. I'm not really sure how paying any any earlier helps me at all really. If they goof up then I'll still have to spend time with them to get the goof corrected...

 

Either way, for me I'm not required to pay any fees or be penalized for a late payment if the processing error was their side. I would have paid my bill on time and how ever long it takes them to process that payment is on them. The only benefit that could be hashed out is if I were to get into an NSF situation I could correct it before I got hit with an NSG fee + late fee, but I don't ever NSF.

Feb. 2012: TU: 677 EQ: 647 EX: 666
Aug. 2013: TU: 729 EQ: 726 EX: 697
Goal 2013+: 720+ All Three

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