topic Re: Best Way To Pay Comenity? in Credit Cards

Best Way To Pay Comenity?

Anonymous — Sun, 17 Jan 2016 21:48:48 GMT

This will be my first time paying a Comenity card. Is it best to use their online bill pay system, or should I use online bill pay through my own bank?

Re: Best Way To Pay Comenity?

Calistal — Sun, 17 Jan 2016 21:53:12 GMT

@Anonymous wrote:
This will be my first time paying a Comenity card. Is it best to use their online bill pay system, or should I use online bill pay through my own bank?

I use their online bill pay - haven't had any issues with it. I wouldn't even know how to go about setting up billpay from my bank, but that's neither here nor there.

Re: Best Way To Pay Comenity?

Anonymous — Sun, 17 Jan 2016 22:00:11 GMT

Just use their online bill pay system.

Re: Best Way To Pay Comenity?

Anonymous — Mon, 18 Jan 2016 00:26:59 GMT

Never had a problem paying online!

Re: Best Way To Pay Comenity?

CountryLivin — Mon, 18 Jan 2016 00:41:24 GMT

I have 11 comenity cards and I use my credit unions bill pay service. I have never had a problem and all of my payments are always posted in a very timely fashion.

Re: Best Way To Pay Comenity?

Anonymous — Mon, 18 Jan 2016 01:06:13 GMT

I pay through my banks bill pay, it usually takes about a day or two to post to all my comenity accounts, pretty fast, they take electronic payments through banks.

Re: Best Way To Pay Comenity?

bodyboy1 — Mon, 18 Jan 2016 01:57:42 GMT

@Anonymous wrote:
This will be my first time paying a Comenity card. Is it best to use their online bill pay system, or should I use online bill pay through my own bank?

. > i have Several Cards... if i where you.. i Would use the Comenity pay system Even if only (for same day payments) Way easier and faster!

Re: Best Way To Pay Comenity?

Anonymous — Mon, 18 Jan 2016 04:43:52 GMT

I've had zero issues doing both payment methods via credit union funds.

Re: Best Way To Pay Comenity?

UncleB — Mon, 18 Jan 2016 05:00:08 GMT

@Anonymous wrote:
This will be my first time paying a Comenity card. Is it best to use their online bill pay system, or should I use online bill pay through my own bank?

There's really no 'right' or 'wrong' answer, just personal preference.

In my case, I usually pay from my own bank. I like the control it gives me, and if something 'weird' were to go wrong the worst that can happen is that the payment simply isn't made, nothing 'bounces'.

Other folks swear by using the issuer's website (in this case, Comenity), and they have valid points as well. As long as Comenity gets their money, either method will get the job done.

Just take the data points provided here and decide what will work best for you.

Re: Best Way To Pay Comenity?

elim — Mon, 18 Jan 2016 05:36:02 GMT

No matter what you decide (push or pull payment), follow through with the complete transaction. We don't want to see a post stating "I set up auto pay and now i have a 60 day late on my reports". Also... be very careful adding your account numbers to CC pull pays. Some lenders (synch bank is one) will shut you down for just one returned payment. I solely pull payments to my CC's as I am there to check transactions, etc, and initiate an active "log in" (I think it shows the consumer is more "engaged with the product" when lenders see you log in to your account multiple times a month). I have yet to experience any AA.

From Barclay's site...

"As a cardmember uses the card more and continues to exhibit responsible behavior, the likelihood is greater that we will give an increase. As you can see, there eventually is a peak area. This peak will be different for everyone as there are many factors, but it is here where the risk reward formula is at its most optimal for a customer and a bank. The cardmember is clearly engaged with the product so we can more comfortably project a reward for extending more line and increasing our risk."

Spend, Log in, pay (any way you like), Make sure the payment posts and is pulled from bank.

Re: Best Way To Pay Comenity?

core — Mon, 18 Jan 2016 05:42:52 GMT

It's not just personal preference, it really depends on how you manage your finances. Do you always wait until the last minute to pay your bills? Do you have 20 different bank accounts? Are you needing to deal with frequent payments on a low limit card?

Here's all the pros/cons I can think of for each method:

Creditor's site	Bank bill pay
If you type your bank account number wrong they may close your account	Wrong account number will cause a couple days late payment worst case
You often get an extra business day of float	Bank deducts the funds right away. This can be a positive if you don't keep track of your checking account.
Payments made can post same-day	Last minute payments won't work. If you have a dicey bank you may have to send it several days earlier. (Or get a new bank!)
Creditors can get suspicious of certain payment patterns, multiple bank accounts, etc.	Creditors don't care where it came from. Funds are already in their pocket.
You cannot pay before the charges post. And no ability to overpay.	Can pay for charges right away. Overpay as much as you want.
You have to log into many different sites to pay all your bills.	Can pay all of your credit cards from the same site at once.
No bonus	Discover checking pays you $0.10 per payment
Creditor has your checking account number	<-- Do you really trust Credit One that much?

Re: Best Way To Pay Comenity?

UncleB — Mon, 18 Jan 2016 05:56:10 GMT

@core wrote:
It's not just personal preference, it really depends on how you manage your finances. Do you always wait until the last minute to pay your bills? Do you have 20 different bank accounts? Are you needing to deal with frequent payments on a low limit card?

Here's all the pros/cons I can think of for each method:

Creditor's site Bank bill pay
If you type your bank account number wrong they may close your account Wrong account number will cause a couple days late payment worst case
You often get an extra business day of float Bank deducts the funds right away. This can be a positive if you don't keep track of your checking account.
Payments made can post same-day Last minute payments won't work. If you have a dicey bank you may have to send it several days earlier. (Or get a new bank!)
Creditors can get suspicious of certain payment patterns, multiple bank accounts, etc. Creditors don't care where it came from. Funds are already in their pocket.
You cannot pay before the charges post. And no ability to overpay. Can pay for charges right away. Overpay as much as you want.
You have to log into many different sites to pay all your bills. Can pay all of your credit cards from the same site at once.
No bonus Discover checking pays you $0.10 per payment
Creditor has your checking account number <-- Do you really trust Credit One that much?

+1... This is an excellent breakdown of the pros and cons of each method.

The only thing I would add/amend is that unless you're trying to beat a due date or you're working with a low-limit card, it does come down to 'personal preference'. For most folks, either method will do the job.

Re: Best Way To Pay Comenity?

core — Mon, 18 Jan 2016 06:18:21 GMT

@UncleB wrote:
For most folks, either method will do the job.

MyFICO'ers are not "most folks". Don't you know that by now?

Speaking of typing account numbers wrong, you know what drives me nuts? When sites won't let you paste your bank account number into the form. Right click + paste sometimes works, but usually not. Why do they do this?? I mean seriously, what's more accurate: A quick copy+paste or making someone type in a ton of digits? I think they intentionally do this in the hopes that you will fat-finger your number so they can charge you all kinds of fees.

Re: Best Way To Pay Comenity?

NoAnchoviesPlease — Mon, 18 Jan 2016 06:31:31 GMT

@core wrote:
@UncleB wrote:
For most folks, either method will do the job.
MyFICO'ers are not "most folks". Don't you know that by now?

Speaking of typing account numbers wrong, you know what drives me nuts? When sites won't let you paste your bank account number into the form. Right click + paste sometimes works, but usually not. Why do they do this?? I mean seriously, what's more accurate: A quick copy+paste or making someone type in a ton of digits? I think they intentionally do this in the hopes that you will fat-finger your number so they can charge you all kinds of fees.

I would say that even for many/most MyFICOers, after your first bill payment, the risks are drastically reduced (I.e. If you get the right account number, it's still there the next time, and you will have an idea of how long the payment takes to process/post). And yes, either method will do the job for most of the month.

I generally use credit union bill pay, and most of my CUs will initiate an electronic transfer the next banking day, and it posts to my CC the day after.

If I'm running late, or I want the available credit sooner (i.e. Discover Applepay deal last year, or a toy credit card, or a big purchase right before a statement cuts), I'll use the CC site.

Your mileage may vary of course.

Re: Best Way To Pay Comenity?

UncleB — Mon, 18 Jan 2016 06:35:14 GMT

@core wrote:
@UncleB wrote:
For most folks, either method will do the job.
MyFICO'ers are not "most folks". Don't you know that by now?

Speaking of typing account numbers wrong, you know what drives me nuts? When sites won't let you paste your bank account number into the form. Right click + paste sometimes works, but usually not. Why do they do this?? I mean seriously, what's more accurate: A quick copy+paste or making someone type in a ton of digits? I think they intentionally do this in the hopes that you will fat-finger your number so they can charge you all kinds of fees.

Very true, my friend!

The chance of getting the number wrong (however slight... it happens) is the primary reason I personally prefer to keep it simple and make the payment from my own bank; the second reason is a few years ago when I had a low limit, HSBC was really bad about placing a 'hold' on my payment unless I used my own bank to 'push' it (this wouldn't be a problem now, but old habits die hard, I guess... LOL).

I was able to copy and paste my checking account number into the Amex site, and after meticulously watching it post all the way that first time I feel comfortable with them 'pulling' the payment on occasion, but with my other creditors I've not even set it up.

Re: Best Way To Pay Comenity?

Anonymous — Mon, 18 Jan 2016 06:35:40 GMT

@UncleB wrote:
@Anonymous wrote:
This will be my first time paying a Comenity card. Is it best to use their online bill pay system, or should I use online bill pay through my own bank?
There's really no 'right' or 'wrong' answer, just personal preference.

In my case, I usually pay from my own bank. I like the control it gives me, and if something 'weird' were to go wrong the worst that can happen is that the payment simply isn't made, nothing 'bounces'.

Other folks swear by using the issuer's website (in this case, Comenity), and they have valid points as well. As long as Comenity gets their money, either method will get the job done.

Just take the data points provided here and decide what will work best for you.

+1 that's what I am for using the banks bill pay...no bounced from a wrong number keyed...the bank (Comenity) saying a wrong number was keyed after several auto payments either