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-   -   Do you auto-pay your CC accounts? (https://www.early-retirement.org/forums/f28/do-you-auto-pay-your-cc-accounts-95910.html)

msanniee 02-01-2019 10:20 PM

I too have Fidelity w/ Fidelity branded CC. I use autopay for this credit card without any overdraw issues.

audreyh1 02-01-2019 10:22 PM

I get texts when a charge is made without the card present or above a certain amount, so I usually get notice of a fraudulent charge immediately.

In addition I always reconcile our credit card statements in Quicken. Transactions are usually downloaded. I collect receipts and go through the charges putting aside the receipts for shredding (or safe things that might be needed).

Then I let the bank autopay the credit card. ;) Moving funds in if necessary.

mickeyd 02-02-2019 12:47 PM

I have been paying my 2 CCs (Visa/DC) via autopay for over 30 years. No problems yet. I'll get back to you in 30 years to update you.

shatteredfx 02-02-2019 04:06 PM

Quote:

Originally Posted by RetireAge50 (Post 2178947)
All bills including credit cards are automatically pulled from checking. I do nothing but monitor the balances and activity.

I pretty much do the same - it is much easier to do that so I can keep track of money going in and out of my accounts at all time.

kaneohe 02-02-2019 06:42 PM

I know OP's interest was in autopaying cc accounts....at least what the title suggests to me but I got a rude wakeup call today that perhaps the autopayment of bills to the credit card is even more important. If you're late with the cc payment, you will pay some bucks in penalty.

But if you're late paying bills like medical insurance, you run the risk of cancellation which wouldn't be pleasant if you had any pre-existing conditions.
In my case today the letter from the insurance company was a wake-up auto cancellation notice. I take pride in never missing such things.....they are on my calendar which I look at daily........so I don't know if I was too excited about leaving to see the grandchild or if I mixed up the umbrella policy due date or if I'm just getting senile or perhaps I needed more excitement in my
life.

Fortunately the letter came just 8 days after the due date so they must only allow 5 or 6 days before they send it out. Also fortunate that we are home and not on an extended trip, that the insurance company has a 24 hr hotline, and that there is a 3+ wk grace period.

Everything else is on autopay......why not this one? Do they not do that or perhaps I never asked.......will have to find out.

sgstaley 02-02-2019 07:04 PM

We have done autopay and paperless on all of our billing for over ten years now. We have never had a problem. I have alerts sent to my phone for any expenditure over one dollar, so not too much gets by us. We also have set up many many alerts on all of our money related accounts.
We used auto debit on investing also.
If I had to say that there was a "downside" to our lifestyle, it would be that we keep WAY too much money in our checking account so as not to have to watch every penny going out.

kilgore 02-03-2019 11:58 AM

Auto-pay for many years. So far, so good.:) KG

sgstaley 02-03-2019 04:42 PM

Quote:

Originally Posted by audreyh1 (Post 2179364)
You need to turn on the Do Not Disturb feature!

Dittos.

Camas Lilly 02-08-2019 08:05 AM

I do not auto pay CC. I prefer to know what a variable expense is before it is withdrawn and I also prefer to review like you, every few days. I do receive automatic e-mails with each charge made to my accounts. I do this for all credit cards I have. Everything else is auto pay w/2% cash back. Works great.


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