topic Re: Autopayment Strategy? in Credit Cards

Autopayment Strategy?

loviedovie — Wed, 18 Jan 2023 03:49:55 GMT

Hi credit gurus, question for you all:

A few folks on here have said they unintentionally missed payments when their credit card was either puchased by a different creditor, or converted to a different product with the same creditor, causing their automatic payments to be deactivated. (Happened to yours truly. No fun.)

Would it be better to automate the payments on an OUTGOING basis, from the checking account TO the creditor? I never thought of this before but I wonder if it would help. Has anyone done it this way? Does it help?

Re: Autopayment Strategy?

Horseshoez — Wed, 18 Jan 2023 03:55:21 GMT

@loviedovie wrote:
Hi credit gurus, question for you all:

A few folks on here have said they unintentionally missed payments when their credit card was either puchased by a different creditor, or converted to a different product with the same creditor, causing their automatic payments to be deactivated. (Happened to yours truly. No fun.)

Would it be better to automate the payments on an OUTGOING basis, from the checking account TO the creditor? I never thought of this before but I wonder if it would help. Has anyone done it this way? Does it help?

I always push my payments from my checking account to my creditors, I set up the ability to manually pull payments on a couple of my credit cards "just in case", but I haven't needed to use that option so far.

Re: Autopayment Strategy?

FireMedic1 — Wed, 18 Jan 2023 12:30:37 GMT

Its nice to have if you forget to make a payment as a security blanket. I prefer to handle my payments over a computer. Got slammed once yrs ago and of course I didnt win. Some swear by it and some not so much.

Re: Autopayment Strategy?

JoeRockhead — Wed, 18 Jan 2023 12:40:23 GMT

For all the reasons already brought up, I simply don't trust the automated payment method... I too prefer to just handle making the payments myself.

Re: Autopayment Strategy?

Kforce — Wed, 18 Jan 2023 17:34:54 GMT

I also push all my payments from a CU billpay service.

Early in each month (3rd)

Have a monthly auto of a few hundred go to each of my well used cards

About $10 auto push to each sock drawer cards.

Between the 17-20 each month I log in to each and pay the current balance

Again by pushing the $

Simple and works for me

Safety and control