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Established Contributor
Ulan
Posts: 790
Registered: ‎09-09-2008
0

Re: Discover Direct Pay


Scamp wrote:

jaybird201 wrote:
hooray for automatic PIFing. don't understand why more people don't just sign-up and check their statements every month to make sure everything is copacetic -- let's me worry about other things.

 

Well, in my case, it's because I'm a control-freak who doesn't want to have to hunt down and stop all the auto-pays and clean up the mess on any I miss or can't get to in time if any kind of serious you-know-what hits the fan and empties my pay-from account.


That's fine, but you can always change the setting. The options are "pay the minimum", "pay the minimum + x", "pay x", or "PIF". And, as I said, I see it more as a safety option in case I really forget something. You can always set the automatic option to just "pay the minimum", which is completely sufficient to prevent you from accumulating expensive fees and negative entries on your credit report and does not empty your payment account.

Established Contributor
Itsmeagain
Posts: 832
Registered: ‎01-16-2008

Re: Discover Direct Pay

[ Edited ]

I don't use auto-pay because:

 

  1. Don't trust them to do it on time.  They might change the due date and 'forget' to change the auto-pay.
  2. I pay before the statement drops.
  3. I am also obsessive about checking my accounts on a daily basis and there is no chance I will let one slip by. 
  4. Don't maintain a large balance in bill pay account.  Fear of a denial by the bank causing all sorts of problems.
Message Edited by Itsmeagain on 04-26-2009 12:05 PM

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Established Contributor
Ulan
Posts: 790
Registered: ‎09-09-2008
0

Re: Discover Direct Pay


Itsmeagain wrote:

I don't use auto-pay because:

  1. Don't trust them to do it on time.  They might change the due date and 'forget' to change the auto-pay.

Though this is a valid concern, this usually only happens when autopay is newly set up. I did not have any problems to argue that is the cc company's duty to pay themselves on time if they agree to autopay when this happened with my WF account.

Valued Contributor
Scamp
Posts: 2,791
Registered: ‎03-18-2007
0

Re: Discover Direct Pay


Ulan wrote:

Scamp wrote:

jaybird201 wrote:
hooray for automatic PIFing. don't understand why more people don't just sign-up and check their statements every month to make sure everything is copacetic -- let's me worry about other things.

 

Well, in my case, it's because I'm a control-freak who doesn't want to have to hunt down and stop all the auto-pays and clean up the mess on any I miss or can't get to in time if any kind of serious you-know-what hits the fan and empties my pay-from account.


That's fine, but you can always change the setting. The options are "pay the minimum", "pay the minimum + x", "pay x", or "PIF". And, as I said, I see it more as a safety option in case I really forget something. You can always set the automatic option to just "pay the minimum", which is completely sufficient to prevent you from accumulating expensive fees and negative entries on your credit report and does not empty your payment account.


 

Sorry, I guess I wasn't clear.

 

I didn't mean something hitting the fan with the auto-pay settings; I meant some emergency that required huge amounts of cash ASAP, or somebody hacking my pay-from account and emptying it, so that there's nothing left for all the auto-pays to pull from.  If there's suddenly 0 in the pay-from account due to some catastrophe, I don't want to have to run around killing all the auto-pays.

_____________________________________________________________________________
It's never too late to become the person you might have been. ~George Eliot

02/12/09 EX: 701 / 02/08/10 EQ: 719 / 02/08/10 TU: 723

Backdoor Numbers, Credit Scoring 101, Understanding Your FICO Score PDF
Established Contributor
Ulan
Posts: 790
Registered: ‎09-09-2008
0

Re: Discover Direct Pay


Scamp wrote:
Sorry, I guess I wasn't clear.

I didn't mean something hitting the fan with the auto-pay settings; I meant some emergency that required huge amounts of cash ASAP, or somebody hacking my pay-from account and emptying it, so that there's nothing left for all the auto-pays to pull from.  If there's suddenly 0 in the pay-from account due to some catastrophe, I don't want to have to run around killing all the auto-pays.


I understood that, but don't you want to pay at least the minimum in this case, too? The scenario I proposed as solution here was to just set all your autopays to "pay the minimum". That's completely sufficient as safety feature if you usually pay your bills early anyway. In this emergency case, you would have to supply your payment account with enough money to satisfy the minimum payments rolling in, which is usually a tiny amount of money.

Valued Contributor
athensguy
Posts: 1,291
Registered: ‎02-26-2008
0

Re: Discover Direct Pay

If I click on "Make Payment" from the front page, there is an option on left side: "Automatic Payment".
Valued Contributor
Scamp
Posts: 2,791
Registered: ‎03-18-2007
0

Re: Discover Direct Pay


Ulan wrote:

Scamp wrote:
Sorry, I guess I wasn't clear.

I didn't mean something hitting the fan with the auto-pay settings; I meant some emergency that required huge amounts of cash ASAP, or somebody hacking my pay-from account and emptying it, so that there's nothing left for all the auto-pays to pull from.  If there's suddenly 0 in the pay-from account due to some catastrophe, I don't want to have to run around killing all the auto-pays.


I understood that, but don't you want to pay at least the minimum in this case, too? The scenario I proposed as solution here was to just set all your autopays to "pay the minimum". That's completely sufficient as safety feature if you usually pay your bills early anyway. In this emergency case, you would have to supply your payment account with enough money to satisfy the minimum payments rolling in, which is usually a tiny amount of money.


I beg your pardon.  For me, the answer is no - not even auto-pay of the minimum set up, as it can't take the minimum out of 0, should a major catastrophe hit and leave my pay-from account dead empty.

 

If you use it, are happy and comfortable with it, then that's great.  I'm glad it's a good fit for you.

 

But it's not a good fit for me, and it's not a comfortable fit for everyone.  That's all I was trying to say, as well as give a little insight into why some folks might not be comfortable with it.  Not saying I'm right, just that I'm different.

 

Different things work for different people.

_____________________________________________________________________________
It's never too late to become the person you might have been. ~George Eliot

02/12/09 EX: 701 / 02/08/10 EQ: 719 / 02/08/10 TU: 723

Backdoor Numbers, Credit Scoring 101, Understanding Your FICO Score PDF
Established Contributor
Ulan
Posts: 790
Registered: ‎09-09-2008

Re: Discover Direct Pay


Scamp wrote:

Ulan wrote:

Scamp wrote:
Sorry, I guess I wasn't clear.

I didn't mean something hitting the fan with the auto-pay settings; I meant some emergency that required huge amounts of cash ASAP, or somebody hacking my pay-from account and emptying it, so that there's nothing left for all the auto-pays to pull from.  If there's suddenly 0 in the pay-from account due to some catastrophe, I don't want to have to run around killing all the auto-pays.


I understood that, but don't you want to pay at least the minimum in this case, too? The scenario I proposed as solution here was to just set all your autopays to "pay the minimum". That's completely sufficient as safety feature if you usually pay your bills early anyway. In this emergency case, you would have to supply your payment account with enough money to satisfy the minimum payments rolling in, which is usually a tiny amount of money.


I beg your pardon.  For me, the answer is no - not even auto-pay of the minimum set up, as it can't take the minimum out of 0, should a major catastrophe hit and leave my pay-from account dead empty.

 

If you use it, are happy and comfortable with it, then that's great.  I'm glad it's a good fit for you.

 

But it's not a good fit for me, and it's not a comfortable fit for everyone.  That's all I was trying to say, as well as give a little insight into why some folks might not be comfortable with it.  Not saying I'm right, just that I'm different.

 

Different things work for different people.


Sure, no arguing with that. I still don't see how it matters how you go into default if you decide to go into default, but I can understand the "different situation" argument. For instance, if you always squeeze out every last cent out of your checking account because you want to optimize interest gained in your investments, it might be more hassle than it's worth.

 

But given the vehemence of your answer, I should clarify again: I don't rely on autopay to pay my montly bills, either. I usually pay manually. It's just a safety feature that would kick in in case I forget.

Valued Contributor
Scamp
Posts: 2,791
Registered: ‎03-18-2007
0

Re: Discover Direct Pay


Ulan wrote:

Scamp wrote:

Ulan wrote:

Scamp wrote:
Sorry, I guess I wasn't clear.

I didn't mean something hitting the fan with the auto-pay settings; I meant some emergency that required huge amounts of cash ASAP, or somebody hacking my pay-from account and emptying it, so that there's nothing left for all the auto-pays to pull from.  If there's suddenly 0 in the pay-from account due to some catastrophe, I don't want to have to run around killing all the auto-pays.


I understood that, but don't you want to pay at least the minimum in this case, too? The scenario I proposed as solution here was to just set all your autopays to "pay the minimum". That's completely sufficient as safety feature if you usually pay your bills early anyway. In this emergency case, you would have to supply your payment account with enough money to satisfy the minimum payments rolling in, which is usually a tiny amount of money.


I beg your pardon.  For me, the answer is no - not even auto-pay of the minimum set up, as it can't take the minimum out of 0, should a major catastrophe hit and leave my pay-from account dead empty.

 

If you use it, are happy and comfortable with it, then that's great.  I'm glad it's a good fit for you.

 

But it's not a good fit for me, and it's not a comfortable fit for everyone.  That's all I was trying to say, as well as give a little insight into why some folks might not be comfortable with it.  Not saying I'm right, just that I'm different.

 

Different things work for different people.


Sure, no arguing with that. I still don't see how it matters how you go into default if you decide to go into default, but I can understand the "different situation" argument. For instance, if you always squeeze out every last cent out of your checking account because you want to optimize interest gained in your investments, it might be more hassle than it's worth.

 

But given the vehemence of your answer, I should clarify again: I don't rely on autopay to pay my montly bills, either. I usually pay manually. It's just a safety feature that would kick in in case I forget.


Oops - truly didn't mean to sound vehement!  Sorry if it went across that way.

 

 

 

_____________________________________________________________________________
It's never too late to become the person you might have been. ~George Eliot

02/12/09 EX: 701 / 02/08/10 EQ: 719 / 02/08/10 TU: 723

Backdoor Numbers, Credit Scoring 101, Understanding Your FICO Score PDF
Established Contributor
Ulan
Posts: 790
Registered: ‎09-09-2008
0

Re: Discover Direct Pay

[ Edited ]

Scamp wrote:

Oops - truly didn't mean to sound vehement!  Sorry if it went across that way.


No worries. It's often hard to convey the intended tone via a written message, and I guess I misunderstood. I am sure my messages often sound much harsher than I mean them, too.

Message Edited by Ulan on 04-26-2009 12:15 PM

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