09-07-2012 11:35 PM
Question: Do you guys use autopay on your credit card bills? Why or why not?
09-07-2012 11:44 PM
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.
09-07-2012 11:50 PM
Nope... Pay as soon as they post.
09-08-2012 02:31 AM
09-08-2012 03:58 AM - edited 09-08-2012 11:09 AM
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.
09-08-2012 04:22 AM - edited 09-08-2012 04:23 AM
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.
09-08-2012 04:30 AM
09-08-2012 07:52 AM
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.
09-08-2012 07:54 AM
I am enrolled in autopay, as a backup. Generally I pay way early so that I don't have to worry about being late.