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Regular Contributor
Posts: 123
Registered: ‎07-22-2012
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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
Moderator Emeritus
Posts: 14,736
Registered: ‎12-30-2011
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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 04 561, TU 98 567, EX 98 599 (12/30/11)
Current Score: EQ 04 693, EQ 8 714, TU 8 710, EX 8 724 (05/27/16)
Goal Score: 700 on EQ 04 (01/01/17)


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Posts: 14,051
Registered: ‎04-15-2011
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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
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Established Contributor
Posts: 961
Registered: ‎12-21-2010
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Re: Do you guys use autopay on your credit card bills? Why or why not?

+ 1!
Experian® 808/Equifax® ?/TransUnion® 810
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Total Credit $121,190.00
Goal 780!
Contributor
Posts: 77
Registered: ‎10-29-2009
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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

Valued Contributor
Posts: 2,111
Registered: ‎07-29-2011
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Re: Do you guys use autopay on your credit card bills? Why or why not?

[ Edited ]

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
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Contributor
Posts: 256
Registered: ‎08-24-2011
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Re: Do you guys use autopay on your credit card bills? Why or why not?

[ Edited ]

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.

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Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
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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
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Frequent Contributor
Posts: 299
Registered: ‎06-05-2011
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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)
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Established Contributor
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Registered: ‎06-12-2012
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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.

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