countrygirl2
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Post by countrygirl2 on Apr 1, 2021 10:34:45 GMT -5
I pay mine weekly. That way I can allocate monies from MIL, DD, or our LLC for items bought from them. We do have an ATM card for the LLC but sometimes buy things on our credit card. I haven't paid interest in all the time we have had it but maybe for one month when I didn't pay for some reason. We also have a business credit card for Lowe's get a discount and hubs gets a second for being a veteran.
I have almost $400 cash back I can get now, want to leave it till $500.00
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TheOtherMe
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Post by TheOtherMe on Apr 1, 2021 12:16:01 GMT -5
If you are using the phone app, maybe not. But when my statement closes, I just choose "Other" for the payment amount and include the pending transactions in the payment total. Then I have a fresh start for the coming month. I can't say I've tried with EVERY card, but my main ones won't allow a payment greater than the outstanding balance. Same. I can't pay pending payments ahead of time. Depending on the type, some will drop off. I know which ones are real, but I can't pay until they are posted to the account.
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susana1954
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Post by susana1954 on Apr 1, 2021 13:08:12 GMT -5
If you are using the phone app, maybe not. But when my statement closes, I just choose "Other" for the payment amount and include the pending transactions in the payment total. Then I have a fresh start for the coming month. I can't say I've tried with EVERY card, but my main ones won't allow a payment greater than the outstanding balance. I have cards with Chase, BofA, and American Express. They all will let me pay however much I want to, even if it is greater than the outstanding balance. But I am using a desktop, not a phone app.
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minnesotapaintlady
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Post by minnesotapaintlady on Apr 1, 2021 13:26:20 GMT -5
I can't say I've tried with EVERY card, but my main ones won't allow a payment greater than the outstanding balance. I have cards with Chase, BofA, and American Express. They all will let me pay however much I want to, even if it is greater than the outstanding balance. But I am using a desktop, not a phone app. Well, how about that...Chase did let me. I just got this card last week so had never made a payment on it. I'm down to all 0's again. The ones I use all the time (Barclays and Fidelity) do not. This is the message that comes up when I try to pay on my Fidelity card.
No new payments can be entered at this time, because scheduled payments equal or exceed the account balance.
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Annie7
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Post by Annie7 on Apr 1, 2021 13:46:00 GMT -5
I have my cards on autopay for min payment, which is $35. Then I pay the balance on top of it, so sometimes it ends up being more than what was charged. I do a similar thing. I have autopay for minimum due mid-point in the cycle. Then when I get an email saying the statement is ready I schedule the payment for the full statement balance to be sent a couple of days before the due-date. The autopay saves me from fees even if I miss paying a payment (haven't had a late payment in years) and I pay the full balance each month.
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NastyWoman
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Post by NastyWoman on Apr 1, 2021 14:22:37 GMT -5
With one exception I set up payment to go ot 2-3 business days before due date (I want to have some wiggle room in case something goes wrong). The exception is the card I keep in good standing by having my T-mobile bill charged to it. That one I set up to be paid on the last day of the month even though it is not due until the 8th. It just works better that way when I track my spending by month.
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swamp
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Post by swamp on Apr 1, 2021 14:28:45 GMT -5
I don’t think I belong here.....,,
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MN-Investor
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Post by MN-Investor on Apr 1, 2021 15:51:07 GMT -5
I have a spreadsheet that I record upcoming bills - credit cards, insurance, estimated taxes, property taxes, etc. I have a formula in one column which looks at the due date. If the due date is > 2 weeks, it shows an X. If the due date is < 2 weeks, it shows XXX. So I probably pay most of my bills 5-12 days before their due date.
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haapai
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Post by haapai on Apr 1, 2021 18:21:22 GMT -5
I don’t think I belong here.....,, Don't sweat it too much. I'm pretty shocked by how cavalier I have gotten about paying my credit card bill too. Making that payment every month used to be a struggle and minimizing the interest and (later) maximizing the float used to be the most profitable money game that I could play. I'm kinda gobsmacked by the change too.
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daisylu
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Post by daisylu on Apr 2, 2021 10:59:24 GMT -5
All my accounts are paperless, so I pay when I get the e-mail. Always pay through the apps, and I tend to pay the current balance not just the statement balance.
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garion2003
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Post by garion2003 on Apr 2, 2021 15:21:34 GMT -5
I have all my due dates so for the first part of the month, so on or about the 1st of each month I sit down and schedule the payments. I pay the statement balance in full each month. I have my main rewards card that I use for daily purchases, and a few other cards with autorecurring charges to keep them active. My cell phone is on one, my DD card is another, and I use one for gas rewards (not that I fill up much these days).
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buystoys
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Post by buystoys on Apr 2, 2021 15:39:29 GMT -5
We only have one bill that is paper on a monthly basis and one that is quarterly. Everything else is paperless and set up with my e-mail. If something happens to me, DH has been instructed to open the file that has all the information in it. He hates paperless billing. I love it.
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grumpyhermit
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Post by grumpyhermit on Apr 2, 2021 15:43:00 GMT -5
I only have three credit cards.
My oldest, a Chase account which I only use to pay my Netflix bill - is on autopay for I think the due date.
My other two I set a monthly calendar reminder to pay on the 16th of each month which is about a week before the due date on both of those cards. Realistically I could put both of those on auto pay as well. One I only charge my cell phone bill to keep it active, so the amount is fixed every month. My third card I use to buy everything else, and while the amount is slightly variable, it is usually in the same amount +/- a few hundred each month.
I don't really balance...anything...ever...so I figure keeping it on manual pay at least prompts me to look at it, and scan the charges to make sure nothing looks out of place.
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teen persuasion
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Post by teen persuasion on Apr 2, 2021 16:55:35 GMT -5
I've got it set for auto pay in full, about a week prior to due date. I set it up that way just in case something went glitchy with auto pay, I'd have time to manually schedule a payment.
With nearly every bill being paid by CC, or a few auto debited from checking, I had little need to do a monthly bill paying session, and was in danger of forgetting to schedule the CC payment, so I changed to auto pay to prevent it. We get a reminder email that it's coming in the next few days, so no surprises.
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Artemis Windsong
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Post by Artemis Windsong on Apr 2, 2021 19:01:00 GMT -5
A note of caution to people living together (covers all lifestyles). Make sure your partner knows how to pay the bills. Or a trusted friend if single.
I ended up in the hospital for nearly a month. H. had to figure out how to pay bills. Fortunately we didn't have to pay interest on the cc.
I used bill pay online on the 10th and 24th. He is now paying the bills. He pays them when he receives a paper copy.
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andi9899
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Post by andi9899 on Apr 2, 2021 19:26:52 GMT -5
I pay it when the statement comes out. If I've gotten overzealous with it then I may break it up into two payments since I have 2 pay periods per month.
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chiver78
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Post by chiver78 on Apr 3, 2021 8:05:07 GMT -5
I don’t think I belong here.....,, likewise 😳 I'm paying down a number of promotional rates, as I race some "stupid life choices" debt. all of those are all paperless and on autopay a few days before the due date. payment amount is min+interest, rounded up to the nearest $25. the one card I actively use has an automatic payment for the amount of my pups' pet insurance policy charge. that covers more than the min and ensures that I don't forget to pay it entirely for whatever reason. I'll pay anything else whenever I think to check, which is when I "balance my checkbook" in excel 1x/mo or so.
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busymom
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Post by busymom on Apr 3, 2021 20:48:41 GMT -5
I pay my bills as they arrive. Then I don't have to worry about those annoying "late" fees.
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kadee79
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Post by kadee79 on Apr 3, 2021 21:39:11 GMT -5
I'm a dinosaur....each bill is paid as it arrives in the snail mail and it's paid by check in return snail mail. Recently, we have had a couple of bills that never arrived. However, since I'm normally aware of when each bill should come in, I looked it up on line & we called...it was our Chase CC. They waived the late fee and I mailed the check...no more problems so far.
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countrygirl2
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Post by countrygirl2 on Apr 3, 2021 22:13:39 GMT -5
My water, internet, cable, electric, Dish, bills are on autopay. The 2 credit cards I pay online weekly. Our personal insurance premiums are on autopay too. Hubs doesn't like it but I do. I get an email so I know when its going to be paid.
Property taxes and house plus business insurance I write checks.
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tallguy
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Post by tallguy on Apr 3, 2021 22:41:47 GMT -5
I really do not understand some of you people. All of my recurring bills are automatically charged to my credit card. Almost all of my other spending gets put on the card as well. My card is through my bank, and is on autopay at my bank. I write two checks per year, for my semiannual property tax payments. I make two annual online payments per year, for my auto and homeowner's insurance. Other than that, I do nothing other than verify the transactions when I check my account or investment balances. I can understand trying to control it more if money is tight and you are not sure of being able to pay in full every month, but for those who can, why are you going to so much trouble? Are you masochists? Do you need a daily reminder not to spend too much? I don't get it.
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NastyWoman
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Post by NastyWoman on Apr 3, 2021 22:55:58 GMT -5
tallguy I just want to see my CC statement before I pay to make sure there is nothing on there that shouldn't be. It is also the reason I set up payment the day I receive the bill. Check, set up payment and forget about it. No biggie. Have to love internet banking
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tallguy
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Post by tallguy on Apr 3, 2021 23:33:38 GMT -5
tallguy I just want to see my CC statement before I pay to make sure there is nothing on there that shouldn't be. It is also the reason I set up payment the day I receive the bill. Check, set up payment and forget about it. No biggie. Have to love internet banking Yeah, but can't you view the transactions online? That is why I have my checking, savings, credit cards, and investments all consolidated through the same bank. I can see everything I need to see with one or two clicks, and I am already there anyway. And yes, those are self-directed investment accounts so I can invest in pretty much anything I want to with no extra costs or fees. I could travel for several months and never have to arrange a single payment if I don't want to. Have to love THAT.
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djAdvocate
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Post by djAdvocate on Apr 4, 2021 0:03:58 GMT -5
answer to the OP is that it depends on my cash situation.
about three months of the year- typically between mid-April and mid-July, I am very cash poor. it makes little sense for me to pay credit card balances off when it would deprive me of cash-ready transaction money. so, I tend to "let it ride", as the alternative would be dipping into investments that are making the same or better returns as my credit cards charge.
however, nine months out of the year, I pay off the balances monthly.
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minnesotapaintlady
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Post by minnesotapaintlady on Apr 4, 2021 0:08:31 GMT -5
tallguy I just want to see my CC statement before I pay to make sure there is nothing on there that shouldn't be. It is also the reason I set up payment the day I receive the bill. Check, set up payment and forget about it. No biggie. Have to love internet banking Yeah, but can't you view the transactions online? That is why I have my checking, savings, credit cards, and investments all consolidated through the same bank. I can see everything I need to see with one or two clicks, and I am already there anyway. And yes, those are self-directed investment accounts so I can invest in pretty much anything I want to with no extra costs or fees. I could travel for several months and never have to arrange a single payment if I don't want to. Have to love THAT. And if you're already in there checking the transactions, how hard is it to make the 2 or 3 clicks it takes to schedule the payment?
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tallguy
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Post by tallguy on Apr 4, 2021 0:30:47 GMT -5
Yeah, but can't you view the transactions online? That is why I have my checking, savings, credit cards, and investments all consolidated through the same bank. I can see everything I need to see with one or two clicks, and I am already there anyway. And yes, those are self-directed investment accounts so I can invest in pretty much anything I want to with no extra costs or fees. I could travel for several months and never have to arrange a single payment if I don't want to. Have to love THAT. And if you're already in there checking the transactions, how hard is it to make the 2 or 3 clicks it takes to schedule the payment? Why bother? My way I have to do nothing, I can never be late, and I don't run the risk of ever forgetting, making an error, or not being able to get online for some reason. Even if I were in a coma my bills would get paid.
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minnesotapaintlady
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Post by minnesotapaintlady on Apr 4, 2021 1:06:38 GMT -5
And if you're already in there checking the transactions, how hard is it to make the 2 or 3 clicks it takes to schedule the payment? Why bother? My way I have to do nothing, I can never be late, and I don't run the risk of ever forgetting, making an error, or not being able to get online for some reason. Even if I were in a coma my bills would get paid. I can never be late and I don't run the risk of ever forgetting because I'm completely OCD with my finances. But, in case I ever am in a coma they are set up to pay the minimums on the due date.
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tallguy
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Post by tallguy on Apr 4, 2021 1:22:29 GMT -5
Why bother? My way I have to do nothing, I can never be late, and I don't run the risk of ever forgetting, making an error, or not being able to get online for some reason. Even if I were in a coma my bills would get paid. I can never be late and I don't run the risk of ever forgetting because I'm completely OCD with my finances. But, in case I ever am in a coma they are set up to pay the minimums on the due date. You do realize that OCD is not a good thing, right? Unburden yourself. Not only will you be happier but it may well lessen the chance of being in that coma in the first place.
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nidena
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Post by nidena on Apr 4, 2021 8:57:26 GMT -5
I really do not understand some of you people. All of my recurring bills are automatically charged to my credit card. Almost all of my other spending gets put on the card as well. My card is through my bank, and is on autopay at my bank. I write two checks per year, for my semiannual property tax payments. I make two annual online payments per year, for my auto and homeowner's insurance. Other than that, I do nothing other than verify the transactions when I check my account or investment balances. I can understand trying to control it more if money is tight and you are not sure of being able to pay in full every month, but for those who can, why are you going to so much trouble? Are you masochists? Do you need a daily reminder not to spend too much? I don't get it. I've been in my new house less than a year and am still settling in and this comment inspired me to look to see if CC payments are an option. For the water/trash, they are so I just set that up. For my electric, they're not. If I wanted to make a payment, I'd need to enter my account and routing number. So antiquated. ETA: my gas company allows for CC payment setups. Thank you for the helpful comment.
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minnesotapaintlady
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Post by minnesotapaintlady on Apr 4, 2021 9:20:45 GMT -5
I can never be late and I don't run the risk of ever forgetting because I'm completely OCD with my finances. But, in case I ever am in a coma they are set up to pay the minimums on the due date. You do realize that OCD is not a good thing, right? Unburden yourself. Not only will you be happier but it may well lessen the chance of being in that coma in the first place. I don't know. It's served me pretty well. I don't think I could pull off a lot of what I do without being a little obsessive and hyper focused.
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