Double check credit card payments!

[Texas Proud]

I did the same with an even smaller amount... it about the same money, but the last digit was an 8 and I saw it on my screen as a 6... so I was only $2 off....


My eyesight is not good and I do not like bifocals even though I should use them.... it is funny since I had them for many years when I was young...

Heck, even posted this wrong.... I was 2 CENTS off.... not 2 dollars...

 

[LakeTravis]

This is exactly why I do not give anyone draft access to my account - an "isolated" incident (strategic choice of words, as it affected all of their customers) in which a zero was added to the end of all balances due. A monthly gas bill for $100 resulted in $1000 being withdrawn from customers accounts:

Atmos Energy News

 

[Semiretired2008]

While they always reverse it - I have had a few times where I paid my balance in full before the billing cycle date and then got a late payment the next month since I ignored the bill since I knew I had already made a payment, but had made a few small charges between the payment and the final billing cycle.

I need to setup the automatic payment option to preclude this, but I just hate anything automatic since I have had problems in the past getting anything I automated to stop after the account was closed...

 

[pb4uski]

This is exactly why I do not give anyone draft access to my account - an "isolated" incident (strategic choice of words, as it affected all of their customers) in which a zero was added to the end of all balances due. A monthly gas bill for $100 resulted in $1000 being withdrawn from customers accounts:

Atmos Energy News

I don't see this as a problem. The vendor made a mistake, acknowledged it, fixed it and made customers whole. It seems to me that the risk of me making a mistake and having a problem like the OP had are a lot greater than the vendor making a mistake.

What isn't clear is if the problem applied to all autopay customers or a subset of autopay customers.

 

[JOHNNIE36]

All of the retailers you buy from pay 2-3% whether you pay any interest or not.

Good point Dave. I think from now on I'll request a 2% discount for cash since the credit card would charge them at least that amount. Anyone ever try that at a retail store? Just for the hell of it, next time I make a major purchase I'm going to spring that on 'em. Can't use the Discover card because I get 2% cash back anyway.

 

[rjohnla]

Do everything with auto-pay either with Bank or from Credit Card, if allowed, to get cash back bonus or whatever. Have to admit though I don't look at it. Recently got a new infinity card with BoA and had trouble setting up auto-pay so called BoA, they "helped me" and it was done wrong. I new something was wrong when it was refused for payment a store. So I called and explained, BoA rep. really could have cared less, assessed interets on whole balance and late fees. I paid everything in full right then and said I wanted the card cancelled, no problem for BoA rep. just did it. Now I just received a bill for the residual interest due. So will do that manually. Just an unpleasant "auto-pay" story. Lesson learned for me: keep an eye on it at initial set-up to make sure it's right. I seem to pay more attention to credit cards though to make sure if I have a credit coming it actually happens, because then you have vendor and CC company involved on your behalf. Also, the worse, maybe there is another post on this, but I do check credit card debits frequently and sad to say in the past 3 years have caught sooner than later fraudulent use. The amount of effort to fix it varies widely from issuer to issuer, Discover has been the best in my experience.

 

[MooreBonds]

You might want to check on that.

All my credit cards are on autopay for the full monthly balance, and the money comes from a different institution in every case but one.

All I have to do is make sure there is enough in the applicable checking account a couple of days before the credit card is due to be autopaid.

Unfortunately, even in 2013, there are some credit cards that don't allow autodebit (like my Fidelity Investments Visa!). the only one I have that makes me log in each month to my bank to fill out the bill pay amount.

 

[MichaelB]

I have two credit cards, AmEx and Fidelity Visa. Both autodebit from my bank account. Autodebit is more of a worry for me using companies like Comcast, whose internal internal administrative processes are designed to obfuscate or deter, but I still use them and prefer that to making monthly payments.

 

[rjohnla]

Yes I pay full balance as well. But there is one problem I have acquired with everything on auto pay: I have a money clip with a few cards and some cash, I usually only put in in my pocket when I going to be out and need it, LT results: 1) I forget it a lunch so friends have to pay for me and they are convinced it part of my 'get rich' plan - I always pay back by paying the next time for them and if it's more than I owed, my a few dollars, don't care; 2) live in a small downtown area and people know me, walk most the time, when going to the grocery store for example, they let us use the reusable bags to put food stuff in and then take it to the check-out. I've found myself a couple of times waving goodbye and walking out the door only to realize that I did not checkout and pay. I think I've lost connection with paying for things because in my mind it's all on "auto". Anyway, try to watch myself and people I know have gotten use to it and it's now kind of running joke.