Credit Cards

[scottwagnon]

CD, I don't know where you are getting the idea that the bill pay is expensive, because it's quite inexpensive. I borrowed 800 dollars for 2 weeks; it only costed 4 dollars, going by the purchase rate of 15.56%. I am currently doing a promo apr, so now I can borrow the same amount for the same amount of time for free! I need to post the statement to prove this.

[Creditaddict]

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scottwagnon wrote:
CD, I don't know where you are getting the idea that the bill pay is expensive, because it's quite inexpensive. I borrowed 800 dollars for 2 weeks; it only costed 4 dollars, going by the purchase rate of 15.56%. I am currently doing a promo apr, so now I can borrow the same amount for the same amount of time for free! I need to post the statement to prove this.

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Sorry, not to familiar with some of the options, but I spoke with a rep at some point about OverDraft protection with no line, with line, with credit card... and this is not to transfer yourself, this is if they had to transfer... the fees to pull from credit card was very high. I was use to Chase that was $10 from my credit card.

[scottwagnon]

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Creditaddict wrote:

Sorry, not to familiar with some of the options, but I spoke with a rep at some point about OverDraft protection with no line, with line, with credit card... and this is not to transfer yourself, this is if they had to transfer... the fees to pull from credit card was very high. I was use to Chase that was $10 from my credit card.

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No. this is not overdraft transfer or cash advance. they offer a service called "online bill pay advance".  it requires you to send payment in the form of a check online to the payee of your choice. i pay my landlord and electric this way. my landlord gets a paper check and FPL receives electronic cash payment. in any event, the payee never has to accept any fees for payment. so NO fees issued to EITHER payee or payer. but you have to do this online only.

like discover's cashover, you are only charged interest with the wells fargo credit card account as if it were a purchase. however, there is no grace period, and the moment the payment is sent to the payee, you accrue interest from that moment on. however, unlike discover's cashover, you can transact up to 10k per day; unline discover cashover, where you can only do 100 per day per card.

[Creditaddict]

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scottwagnon wrote:

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Creditaddict wrote:

Sorry, not to familiar with some of the options, but I spoke with a rep at some point about OverDraft protection with no line, with line, with credit card... and this is not to transfer yourself, this is if they had to transfer... the fees to pull from credit card was very high. I was use to Chase that was $10 from my credit card.

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No. this is not overdraft transfer or cash advance. they offer a service called "online bill pay advance".  it requires you to send payment in the form of a check online to the payee of your choice. i pay my landlord and electric this way. my landlord gets a paper check and FPL receives electronic cash payment. in any event, the payee never has to accept any fees for payment. so NO fees issued to EITHER payee or payer. but you have to do this online only.

like discover's cashover, you are only charged interest with the wells fargo credit card account as if it were a purchase. however, there is no grace period, and the moment the payment is sent to the payee, you accrue interest from that moment on. however, unlike discover's cashover, you can transact up to 10k per day; unline discover cashover, where you can only do 100 per day per card.

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Wait, I'm confused... Are you paying with a check because you can't sent Electronic Payments to a person or you are taking an advance because you don't have the money to cover it?

I was only talking about covering negatives and overdraft options.

[scottwagnon]

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Creditaddict wrote:

Wait, I'm confused... Are you paying with a check because you can't sent Electronic Payments to a person or you are taking an advance because you don't have the money to cover it?

I was only talking about covering negatives and overdraft options.

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i am indeed paying my landlord with a check that is both printed and sent by wells fargo. i never see or print the check that they send to my landlord.

yes, i am paying my landlord and electric bill through credit and not my checking; this is part of my objective to assure 99.9 percent of all of my spending goes through credit.

i also enjoy the option to have piece of mind when sending a paper check via online bill pay advance to my landlord, knowing that he could claim that he did not receive the check or that the check could get lost; in any event i am covered as i just cancel the check and start over never having to touch my checking account.

as soon as my landlord cashes his check at wells fargo of course, wells fargo sends me a confirmation that the check has been cashed. as soon as i receive this notification, i pay the balance in full (usually both electric and landlord runs about the same time). the great thing about this, if i am short on funds in checking, i can wait it out as long as i need to with the interest rate of 15.56 (right now its 0!) i think i did wait it out a day or two once or twice.

[score_building]

OT: I send no fee check or electronic payments through billpay from AFCU cc at 8.X...USAA at 10.X and pay immediately, decent rates in a pinch though. Both AFCU and USAA cc are attached to their respective checking accounts as secondary (no fee) OD.