topic Re: Pushing Payments to CCs vs Pulling in Credit Cards

Pushing Payments to CCs vs Pulling

OMW2_HighAcheiver — Sun, 24 Jan 2016 04:37:22 GMT

Evening All

Can someone explain the benefits of pushing payments to credit cards vs paying on CC websites?

Thanks

Re: Pushing Payments to CCs vs Pulling

Anonymous — Sun, 24 Jan 2016 07:53:51 GMT

@OMW2_HighAcheiver wrote:
Evening All

Can someone explain the benefits of pushing payments to credit cards vs paying on CC websites?

Thanks

IMO, its mostly personal preference. Some say its gets posted faster, and is more reliable to push the payments, but I personally have never had an issue with pulling payments since I started doing it five years ago.

Re: Pushing Payments to CCs vs Pulling

Gunnar419 — Sun, 24 Jan 2016 14:22:53 GMT

I always push my payments because (1) it allows me to manage all payments from one spot (my bank's bill pay page) rather than having to enter sensitive financial data on a bunch of sites, and monitor all those sites to make sure payment has been made, and (2) because when I push, I can pay any amount I want and I can pay charges that are pending, which cc sites may not permit.

Re: Pushing Payments to CCs vs Pulling

Anonymous — Sun, 24 Jan 2016 14:52:52 GMT

What's pushing mean vs pulling?

Re: Pushing Payments to CCs vs Pulling

elim — Sun, 24 Jan 2016 15:14:59 GMT

@Anonymous wrote:
What's pushing mean vs pulling?

pushing a payment from your banks bill pay

pulling a payment from your bank account via the CC payment portal

Re: Pushing Payments to CCs vs Pulling

Anonymous — Sun, 24 Jan 2016 20:22:39 GMT

Thanks

Re: Pushing Payments to CCs vs Pulling

Anonymous — Sun, 24 Jan 2016 22:33:37 GMT

When pushing a payment, do they actually mail the payment or, when it's between two financial institutions, do they do it wirelessly?

A friend of mine has a local business. The business receives several automatic billpay checks each month from a local bank (on behalf its customers). Shortly after statements go out, he might receive 10 checks (all from different customers) in the same envelope from the bank. A few years ago, there was a time when on several different occasions he received a check that wasn't his mixed in with the others. It was always the back one, as if they should have grabbed 10 checks, but they grabbed 11 (his 10 and one that should have been mailed to someone else)! He always returned the check, but it's rather alarming that person's check only got delivered because of my friend's good will.

About the same time, I sent a billpay payment to another local business. I use the same bank. It never arrived. Fortunately, I know the owners. They knew I was good for it, and didn't even bother to contact me until the next time I was in (I don't know why they didn't send another statement the next month?). I suppose it's possible they lost it or my check got "lost in the mail," but I'm pretty sure it got stuck in the wrong envelope, like the ones at my friend's business.

I still use billpay for certain things (and I've never had another problem), but I don't think I would use it (with this bank, at least) if a mis-sent check would mean a negative mark on my credit report.

To be fair, I think they got the problem sorted out (pun intended). I haven't heard of it happening in the last few years. All the same . . .

Re: Pushing Payments to CCs vs Pulling

Anonymous — Sun, 24 Jan 2016 22:36:16 GMT

@Anonymous wrote:
When pushing a payment, do they actually mail the payment or, when it's between two financial institutions, do they do it wirelessly?

In most cases, certainly with major lenders, it will be an ACH transfer, no mailing of a check.

Re the subject: my preferred mode is to set up auto-pay (PIF on due date) on the cc site. That way, providing I have funds in my bank account, it is there responsibility to do the pull on the correct date. If I push from my bank, and something goes wrong for whatever reason, the cc issuer doesn't have to cut me some slack if the payment gets late. And to be safe, I may need to push before the due date, losing a little of the float period. So for me pull is better, except when I am micromanaging score, in which I might push to cover pending charges if the issuer site doesn't allow for that

Re: Pushing Payments to CCs vs Pulling

OMW2_HighAcheiver — Sun, 24 Jan 2016 22:59:57 GMT

Thanks for the responses!

I think I'm leaning more towards pull. Just for the fact if anything "happens", it would be the fault of the CCC. I like push because I feel I'm in more control of my money.

Yeah.... I'm on the fence
I've done a few push transactions. Seems it went rather smooth. It makes me nervous if maybe the payments takes to long to get there. But I guess paying a week before I need it to be there, I'll be good.

My parents still use money orders. Hell, maybe I'll do that! 😏

Re: Pushing Payments to CCs vs Pulling

Anonymous — Sun, 24 Jan 2016 23:09:57 GMT

I usually push when it's a set amount (mortgage, car payment, CC on 0% where I'm paying a more or less set amount each month). I usually pull when paying CC's that vary. I used to think I didn't want all those places having my checking account info, but in the end its usually easier and it gives me more control.

On setting up autopay, I like the idea of it, but I usually want too much control. And different CCCs do it differently. For example (I may have my issuers wrong) Citi is good that if you have it set to auto pay and you pay it first, it won't draft anything, but Target goes through pains to say if you pay it, they'll still draft it. I've had a couple set up to auto pay but it was too hard to remember which ones were a problem if I made a payment and which weren't.

Also, it depends if you're in a micro-managing your scores phase or not, becuase I've not found a way to set up auto pay to pay the full statement balances before the next due date.

Re: Pushing Payments to CCs vs Pulling

Anonymous — Sun, 24 Jan 2016 23:50:59 GMT

I only push a payment when I want to pay more than the current charges are, like if I want to pay for several pending charges I just made. I don't push often, because it takes forever (usually over a week) to post the payment. I would be better off waiting for charges to post and pulling the payment.

Re: Pushing Payments to CCs vs Pulling

Anonymous — Sun, 24 Jan 2016 23:58:33 GMT

I like to "pull" by going to the cc website and logging in to 1) review charges and 2) see what the current balance is so I know how much I need to pay.

I've "pushed" a payment once from my bank before but it was done via bill pay, and because the cc was big enough to be electronic, it only had a few business days rather then the 5-7 business days via snail mail.

But, I'm not a fan of this method (I also don't bank with bofa) because I don't get to see how much the balance is, and i would need to log into the cc website anyways; so why not do it in one fell swoop?

It's also less numbers I can muck up on routing + acct # (broken up into smaller #s) vs cc's 15/16 digits.

Re: Pushing Payments to CCs vs Pulling

Anonymous — Mon, 25 Jan 2016 00:45:19 GMT

I nearly always push payments, since that way I can view and manage all bill payments in my checking account's bill pay feature. I also find that keeps my checking account balance more up to date, since the pending payment subtracts from the balance as soon as I push the payment, instead of waiting until it posts.

Re: Pushing Payments to CCs vs Pulling

OMW2_HighAcheiver — Mon, 25 Jan 2016 01:22:02 GMT

@Anonymous wrote:
I only push a payment when I want to pay more than the current charges are, like if I want to pay for several pending charges I just made. I don't push often, because it takes forever (usually over a week) to post the payment. I would be better off waiting for charges to post and pulling the payment.

Yes! Yes! This!

Thanks Annipoo, i can comprehend this explanation. It's how I'm feeling.

Re: Pushing Payments to CCs vs Pulling

OMW2_HighAcheiver — Mon, 25 Jan 2016 01:23:50 GMT

Re: Pushing Payments to CCs vs Pulling

bdhu2001 — Mon, 25 Jan 2016 01:55:27 GMT

@OMW2_HighAcheiver wrote:
@Anonymous wrote:
I only push a payment when I want to pay more than the current charges are, like if I want to pay for several pending charges I just made. I don't push often, because it takes forever (usually over a week) to post the payment. I would be better off waiting for charges to post and pulling the payment.
Yes! Yes! This!

Thanks Annipoo, i can comprehend this explanation. It's how I'm feeling.

What banks are you guys banking at? My bank shows most payment get to the person within 2 days and a few take four days. Four days they're mailing a physical check (usually gardener or local service). Two days are with businesses they can electronically make payments to (PG&E, CCs).

Re: Pushing Payments to CCs vs Pulling

Gunnar419 — Mon, 25 Jan 2016 02:20:54 GMT

@bdhu2001 wrote:
@OMW2_HighAcheiver wrote:
@Anonymous wrote:
I only push a payment when I want to pay more than the current charges are, like if I want to pay for several pending charges I just made. I don't push often, because it takes forever (usually over a week) to post the payment. I would be better off waiting for charges to post and pulling the payment.
Yes! Yes! This!

Thanks Annipoo, i can comprehend this explanation. It's how I'm feeling.
What banks are you guys banking at? My bank shows most payment get to the person within 2 days and a few take four days. Four days they're mailing a physical check (usually gardener or local service). Two days are with businesses they can electronically make payments to (PG&E, CCs).

Same here. Well, I never have a gardner to pay, but all my bills to financial institutions take no more than two days and are done by electronic transfer from my bank's billpay system. Only one bill to a small local company goes by paper check, which does take longer. I'm stunned to hear people saying that their bank billpays take a week or more, especially if they're paying credit cards.

Re: Pushing Payments to CCs vs Pulling

Anonymous — Mon, 25 Jan 2016 02:54:20 GMT

I have all of my credit cards set up to autopull the full balance on the due date (unless I'm running a 0% balance like I am now on the Discover it Miles, then it's a minimum payment on the due date). That way I'm sure it will be paid, and any failures are the fault of the CCC, so there's no arguing. And with 39 cards, I can't rely on my memory to pay every bill manually. I have the autopull from my checking account that I keep around $10k in, so there shouldn't be a problem with not having enough money (or I have much bigger problems than a credit card bill).

Meanwhile, I will push payments from my Discover checking account to bring balances down to zero so I have fewer accounts reporting balances, or to get balances down to 99¢ so the balance gets adjusted to zero, or just for the heck of it. Discover checking pays me 10¢ for each bill pay, so if I throw a few extra payments in that's fine (as long as I don't make so many small payments that the issuer gets annoyed with me).

Chris.

Re: Pushing Payments to CCs vs Pulling

Anonymous — Mon, 25 Jan 2016 03:00:27 GMT

@bdhu2001 wrote:
@OMW2_HighAcheiver wrote:
@Anonymous wrote:
I only push a payment when I want to pay more than the current charges are, like if I want to pay for several pending charges I just made. I don't push often, because it takes forever (usually over a week) to post the payment. I would be better off waiting for charges to post and pulling the payment.
Yes! Yes! This!

Thanks Annipoo, i can comprehend this explanation. It's how I'm feeling.
What banks are you guys banking at? My bank shows most payment get to the person within 2 days and a few take four days. Four days they're mailing a physical check (usually gardener or local service). Two days are with businesses they can electronically make payments to (PG&E, CCs).

Mine is BB&T, and says that they are all paid electronically (which I would believe since I am only using it to pay Disco, Amex, Cap One, and Synchrony). I was going to try out NFCU bill pay but it said that Discover does not take electronic payments (which I find hard to believe since BB&T says that they do) so I didn't even try it.

Re: Pushing Payments to CCs vs Pulling

sunkissed — Mon, 25 Jan 2016 03:05:15 GMT

@Anonymous wrote:
@bdhu2001 wrote:
@OMW2_HighAcheiver wrote:
@Anonymous wrote:
I only push a payment when I want to pay more than the current charges are, like if I want to pay for several pending charges I just made. I don't push often, because it takes forever (usually over a week) to post the payment. I would be better off waiting for charges to post and pulling the payment.
Yes! Yes! This!

Thanks Annipoo, i can comprehend this explanation. It's how I'm feeling.
What banks are you guys banking at? My bank shows most payment get to the person within 2 days and a few take four days. Four days they're mailing a physical check (usually gardener or local service). Two days are with businesses they can electronically make payments to (PG&E, CCs).
Mine is BB&T, and says that they are all paid electronically (which I would believe since I am only using it to pay Disco, Amex, Cap One, and Synchrony). I was going to try out NFCU bill pay but it said that Discover does not take electronic payments (which I find hard to believe since BB&T says that they do) so I didn't even try it.

Annipoo, I pay Discover from NFCU bill pay every month without issue. It goes ACH. I can even elect to have ebills. I'm not sure why it's giving you trouble. You may want to investigate it further.