Online paperless statments are not for everyone.

[Anonymous]

I know that many of us would like to save a tree but sometimes that paper statement in the mail can save a late especially when due dates fluctuate and intro 0% aprs expire.

So important with credit cards if possible is to request due dates to fall with in the same week of each other. Then pay them a week early on a set day every month. Helps keep track of them.

And the best tool to never be late is AUTO PAY directly from the credit card companies for minimum payments. Insurance that makes a difference.

[Anonymous]

pizza, I don't understand your reasoning.

Usually, any information in the paper statement is also in the electronic one.

And as far as timing is concerned, the electronic statements are almost always available before a paper one hits your mailbox.

Can you clarify?

[Jesedmotherof5]

I dont like online ones either I keep a folder for everything for tax reasons.. I always enter everything into money... I love it when I can download it directly... but not everyone does that!

[Anonymous]

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@Anonymous wrote:
I know that many of us would like to save a tree but sometimes that paper statement in the mail can save a late especially when due dates fluctuate and intro 0% aprs expire.

So important with credit cards if possible is to request due dates to fall with in the same week of each other. Then pay them a week early on a set day every month. Helps keep track of them.

And the best tool to never be late is AUTO PAY directly from the credit card companies for minimum payments. Insurance that makes a difference.

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My little Jr Pizza at home newer to credit had online statements and with a busy life forgot to pay the bills. If they used paper statements the mail would have been a reminder to pay the bill. I personally prefer online statements for myself since I use a spread sheet to track and use auto pay in the event I forget as a back up. We're having a sit down soon to pull their bills together and see where things are going wrong. Too many credit cards and stuff all due at different time and no statements was just a disaster waiting to happen for a newbie. No 30 day lates though so all can be set on track.

[Anonymous]

I am terrible about online statements. Sometimes the email gets spammed, sometimes I just forget until the last minute. It's just not for me.

However, it's great for anyone that has a better memory than I do.

[MidnightVoice]

In most cases I get both 

[Anonymous]

I prefer online statements- I check e-mail every other day at the least, and have the mail from specified addresses forwarded to my "Bills" folder.  Many of the cards have alerts when the statement cuts, which is my cue to send a payment.  Mint.com also gives alerts ("Your XX payment is due in Y days" ) .

Snail mail, on the other hand, I find completely unreliable.  I've had paychecks (naturally... ) take over 2 weeks to get from one side of town to the other.  Then, if it does get to the house, it's extremely easy to get help losing it, between disorganized little me, my husband, and my nine kitties (who don't believe in bills).  If I relied on paper CC statements, I'd run a severe risk of being late even if the statement didn't get lost...

Everybody has a system that works for them! 

-MsMS

Message Edited by MsMS on 05-08-2008 10:27 AM

[Anonymous]

There are plenty of online reminder services that can be used to e-mail or text you when you are approaching a bill payment.   I use one to remind me when the statements close out.  

[Anonymous]

I got Jr on track tonight. We sat down and called all CCCs to change payment due dates so they all land with in the same week. Set up a spread sheet to track and explained how due dates change a little hare and there. Found a common pay date 10 days earlier than actual due date which will stay the same every month. Paying a little early is the key to avoid lates because due dates change a day or so each month. Each box has to be hand written in to so once filled its paid. Any box not filled will be late. It also forces Jr to check for 0 balances because no box can be left empty. If no payment due the box would be filled with $0. Jr can track spending by viewing the history on spreadsheet. When changing due dates Jr asked for CLIs and got them and marked this on the spread sheet to remind to do this every 6 months. Looking good now.

Next week we are going to set up autopay just in case payments are ever late as back up insurance. Sometimes people need a little help to stay on track. I'd be totally financially lost with out my spreadsheets.

[MattH]

One key trick I use with online bill pay is, if some account happens to have a zero or credit balance this month then I make a small payment like 10 bucks, which will just get rolled over into the next month. By always paying something to every monthly account, I make sure I won't forget one. Each weekend I review my recent payment history, and without this trick it would be harder for me to distinguish between "I don't owe them anything this month" versus "I haven't paid them yet this month." With a policy of always paying everybody, if it's been three weeks since I paid somebody and no payment is scheduled for the near future that means I need to call their 800 number right away and find out what I owe them. For the bills that come once or twice a year such as insurance premiums, I still prefer paper statements. With any bill, whether paper or online, I do schedule a payment as soon as I get the bill -- before I have a chance to forget it.