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Do you guys use autopay on your credit card bills? Why or why not?

Regular Contributor

Do you guys use autopay on your credit card bills? Why or why not?

Question: Do you guys use autopay on your credit card bills? Why or why not?

 

 

Jun 2012 FICO® ~ 734 EQ
Sep 2012 FICO® ~ 684 EQ; 734 TU
Oct 2012 FICO® ~ TBA

Goal for 2014 ~760+

Trying to stay in the garden...but also trying to get as many apps as possible for now Smiley Wink
Message 1 of 32
31 REPLIES
Moderator

Re: Do you guys use autopay on your credit card bills? Why or why not?

Not yet; however, I only have 3 cards currently and that isn't excessive to manage for me personally.  At some point I'll be expanding that to 6 or even 8 longer term, and at that point I suspect I'll setup an autopay for minimum just in case life goes sideways and I forget for whatever reason or an online transfer doesn't go through in time.

 

It's a small thing, but given how damaging any derogatory is to one's credit profile, I think it's a recommended defensible position.

 

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Message 2 of 32
Moderator Emeritus

Re: Do you guys use autopay on your credit card bills? Why or why not?

Nope...  Pay as soon as they post.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 3 of 32
Established Contributor

Re: Do you guys use autopay on your credit card bills? Why or why not?

+ 1!
Experian® 808/Equifax® ?/TransUnion® 810
Baddies Experian® clean/Equifax® 1/TransUnion® Clean
Last CLI 6-13-2013
Total Credit $121,190.00
Goal 780!
Message 4 of 32
Contributor

Re: Do you guys use autopay on your credit card bills? Why or why not?

I like to personally/maually do it myself... I get gratification from it Smiley Very Happy

Message 5 of 32
Valued Contributor

Re: Do you guys use autopay on your credit card bills? Why or why not?

I have autopay on most of my cards, but only for the minimum balance due.  Since I manually pay my bills before the due date (often before the statement date), this autopay has never been applied (because my minimum balance due is always $0).  The only reason the autopay is there would be if I was somehow unable to initiate my regular payment (possibly there is no internet access or phones, or even the possibility that zombies are taking over and eating the population).  In this case, the autopay would pay the minimum due to prevent any fines or bad credit until I am in a better situation to continue my regular payments.

EX:694 TU:744 EQ:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Message 6 of 32
Contributor

Re: Do you guys use autopay on your credit card bills? Why or why not?

I dont use it either. I prefer to do it manually. I use an excel spreadsheet for all my bills/cc's and sit down the day after payday and pay all my bills. I make payments on my credit cards twice a month just to play it safe.

 

Even if I did use autopay, Id still feel compelled to log in to make sure it went through and that kind of defeats the convinience factor.

*USAA WORLD MC 18k* *USAA VISA 12k* *AMEX BCE 10k* *DISCOVER IT 15k* *AMEX ZYNC* *B of A SIGNATURE CASH 15k* *NAVY FEDERAL PLATINUM 20k* *CITI DOUBLE CASH 15k* *Veridian CU 14k* *Barclays Apple 12.5k*

Message 7 of 32
Moderator Emeritus

Re: Do you guys use autopay on your credit card bills? Why or why not?

I am enrolled in autopay, as a backup. Generally I pay way early so that I don't have to worry about being late.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Message 8 of 32
Frequent Contributor

Re: Do you guys use autopay on your credit card bills? Why or why not?

I have mine set to autopay the minimum as backup should I not be able to make a payment. I still get the satisfaction of paying them in full and I have peace of mind knowing that should an emergency arise I am covered.

Scores: EX - 769 (Amex FICO 5/21/16) TU - 763 (Discover FICO - 4/30/16), EQ - 795 (Citi FICO - 5/24/16)
Current Cards: Amex BCE - 10k, NFCU cashRewards Sig - 8k, Discover It - 10k, Citi Dividend WE - 8k, Chase Freedom - 4k, Chase Amazon Visa Sig - 4k
Last App: 3/4/2016.
Message 9 of 32
Established Contributor

Re: Do you guys use autopay on your credit card bills? Why or why not?


webhopper wrote:
I am enrolled in autopay, as a backup. Generally I pay way early so that I don't have to worry about being late.

This.

AMEX SPG $30K | Citi TY Premier $20k | PenFed PlatRewards $25k | Barclay Arrival+ 40k | Chase Freedom $20k | BofA AMEX $15k | Discover IT $20k | | NASA Platinum-Advantage $20k | CapOne Quicksilver $15k | Amazon Card $10k |

My Journey from Sub-600s:
Message 10 of 32