Auto-Pay Question

[Anonymous]

Do any companies still take out the minimum due on your due date (as listed on your statement) even after you have made a manual payment?

They all say when you sign up that they will take out the minimum as listed on your statement. That to me means that even if I make a payment and it updates online to show I owe $0.... my statement still shows I owe.

I have never signed up for Auto Pay on anything and I still might not... but it would be nice to have a backup in case I ever get lazy and forget. When you have a lot of cards it can get busy.

Thanks for the info in advance.

[RadioRob]

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@Anonymous wrote:
Do any companies still take out the minimum due on your due date (as listed on your statement) even after you have made a manual payment?

They all say when you sign up that they will take out the minimum as listed on your statement. That to me means that even if I make a payment and it updates online to show I owe $0.... my statement still shows I owe.

I have never signed up for Auto Pay on anything and I still might not... but it would be nice to have a backup in case I ever get lazy and forget. When you have a lot of cards it can get busy.

Thanks for the info in advance.

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This depends on the card issuer.  Most however offset any payments made before making a minimum payment.  You need to check the terms and conditions of the autopay to be sure.

For example, here's the T&C's from Chase autopay:

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Important information regarding payment option: The AutoPay amount will never be more than the Minimum Payment Due. However, it may be less because payments, returned purchases, and other credits can reduce the AutoPay amount if they post to the account between the Closing Date and the date your payment is processed.

Minimum Payment Due example:
$100.00 Minimum Payment due on 2/15/XX
- 50.00 Extra Payment 2/1/XX
$50.00 AutoPay Amount 2/15/XX

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