monro411 wrote:
Thanks guys. I do understand what you are saying. I used to have it setup with my bank for automatic payments. This was back when I was careless with my money and credit. I did not reconcile my bank accounts like I do now and accrued many fees from overdrawing my account and paying late. Honestly, I am afraid to try it again, even though I am more careful and probably would not make any mistakes like that again. I feel that if I have a handwritten check or moneyorder, I feel better that the account has the money to make the payment. It is a phobia that I am going to have to get over eventually. I do agree 100% with what you are saying.
It sounds like you're more comfortable authorizing each payment each month. I'm that way --I just don't feel comfortable with things that are too automated (very much out of sight, out of mind.)
If this is the case, what I do is flag my intended date for each payment on my laptop's Outlook. Every morning when I check my e-mail, anything due on that date pops up. If that's one of my dates for paying, I go to the CCC website (not my bank's website), and authorize a payment from there. With the cards that I have, the payment posts by COB that day, I know before I hit "send" that the money is in the bank to cover it, and I can check the next morning (sometimes that night) to see that the payment is posted.
The creditor gets their money, nothing bounces on the bank end, and I feel like I have done something Grown-Up and Responsible that day!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007