When do you pay your CC?

[TheOtherMe]

Received an email notice on one of my credit cards this morning.  It's now paid.  That's how I do it and it serves me well, too.

[chiver78]

Apr 3, 2021 22:41:47 GMT -5 tallguy said:

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.      

after the hole I dug myself, I doubt I will ever not operate as if anything unplanned will blow up my world. 🤷‍♀️

[Deleted]

Apr 3, 2021 23:33:38 GMT -5 tallguy said:

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.

Count me among the OCD. The only things that go out automatically are my mortgage and a few bills that require direct debits (e.g. my Medicare supplement). Lots of things like the Internet bill, cell phone bill, etc. do get automatically charged to my credit card. I want to review everything and push the button and KNOW it's been paid. We're all different.

[tallguy]

Apr 5, 2021 7:07:21 GMT -5 @athena53 said:

Apr 3, 2021 23:33:38 GMT -5 tallguy said:

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.

Count me among the OCD. The only things that go out automatically are my mortgage and a few bills that require direct debits (e.g. my Medicare supplement). Lots of things like the Internet bill, cell phone bill, etc. do get automatically charged to my credit card. I want to review everything and push the button and KNOW it's been paid. We're all different.

Yeah, but the thing is:  If the credit card is through your bank, and they are responsible for making the payment from your account to their credit card, anything that goes wrong is their fault.  You can never be late, and there is nothing that prevents you from verifying the charges anyway.  At the very least people should be having recurring bills charged to their credit card so they only have to manage one payment per month rather than several, and they earn rewards on the card without any extra spending.  

[minnesotapaintlady]

Apr 5, 2021 12:30:17 GMT -5 tallguy said:

Apr 5, 2021 7:07:21 GMT -5 @athena53 said:

Count me among the OCD. The only things that go out automatically are my mortgage and a few bills that require direct debits (e.g. my Medicare supplement). Lots of things like the Internet bill, cell phone bill, etc. do get automatically charged to my credit card. I want to review everything and push the button and KNOW it's been paid. We're all different.

Yeah, but the thing is:  If the credit card is through your bank, and they are responsible for making the payment from your account to their credit card, anything that goes wrong is their fault.  You can never be late, and there is nothing that prevents you from verifying the charges anyway.  At the very least people should be having recurring bills charged to their credit card so they only have to manage one payment per month rather than several, and they earn rewards on the card without any extra spending.  

I churn cards, and none are from the credit union my payment account is at.

Everyone has their own system and as long as it works for them, that's all that matters.  My mom likes to get her bills in the mail.  She does no online banking or auto drafts at all. It's a little weird to me especially since she's extremely tech savy and basically has a smart house and like 15 cameras on the property she's accessing remotely all the time.  She has to have the latest and greatest iphone at all times and uses ApplePay for everything, but paperless bills and autodraft?  Nope. 

[Tiny]

Apr 3, 2021 23:33:38 GMT -5 tallguy said:

Apr 3, 2021 22:55:58 GMT -5 NastyWoman said:

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.  

the key here is that your finances are consolidated.    

i've got relationships with Chase, BoA, Wells Fargo, Ally and my local Savings and Loan (as well as Fidelity).     I've got 2 mortgages with different banks and credit cards with all of the banks mentioned above (and then some).      The different banks do different things for me.   

I've got alot of moving parts on my monthly finances - that make it difficult to "consolidate" to one bank.      

My twice a month on or right after payday (or every two weeks)  - drill down/review and set up payments works well for me. doesn't take much time, I know how my expenses/spending is going, and I spend very little emotion/time on keeping my finances going. 


I imagine some day I will have fewer moving parts and will have simpler monthly finances.  

[ajmom]

I set up a payment to pay in full on due date.

[iono1]

I have 1 card that I rarely use.  I pay it as soon as the charge is posted or if it's more than I have in checking, I wait until my direct payment deposits go in & then pay it.  If it's a large bill I pay as much as I can afford that month when I get paid. I have 2 direct deposits a month, one from pension & one from SS.  
I should use my credit card more because when I pay by debit card I get no points.  I just made that mistake today, putting a flight on my debit card without thinking about points.  

[Opti]

Apr 4, 2021 17:23:50 GMT -5 chiver78 said:

Apr 3, 2021 22:41:47 GMT -5 tallguy said:

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.      

after the hole I dug myself, I doubt I will ever not operate as if anything unplanned will blow up my world. 🤷‍♀️

There's a double negative or three in there, so I'm not entirely sure what you are saying. But, if I am right about what you are saying I agree. Shit happens, life happens. 

[Opti]

Apr 5, 2021 12:57:37 GMT -5 minnesotapaintlady said:

Apr 5, 2021 12:30:17 GMT -5 tallguy said:

Yeah, but the thing is:  If the credit card is through your bank, and they are responsible for making the payment from your account to their credit card, anything that goes wrong is their fault.  You can never be late, and there is nothing that prevents you from verifying the charges anyway.  At the very least people should be having recurring bills charged to their credit card so they only have to manage one payment per month rather than several, and they earn rewards on the card without any extra spending.  

I churn cards, and none are from the credit union my payment account is at.

Everyone has their own system and as long as it works for them, that's all that matters.  My mom likes to get her bills in the mail.  She does no online banking or auto drafts at all. It's a little weird to me especially since she's extremely tech savy and basically has a smart house and like 15 cameras on the property she's accessing remotely all the time.  She has to have the latest and greatest iphone at all times and uses ApplePay for everything, but paperless bills and autodraft?  Nope. 

Agreed. You need to play your game however it works for you. I'm still on the margins and need to add some occasional CC cards to my current main bank, but since my big job loss, selling my house at a loss, and filing and being granted a BK - I no longer have one central all purpose CC. And given how little notice I've had on some of my layoffs, I will never ever do that again. So I will have more cards than less when I boot up. I have too many IMO store type cards, but that's where I find myself. My Macy's CC is from when I moved here after college. 

I've had more CC mistakes since the BK, but part of it is, I don't have to pay on any of them every month. So I have to keep track of them, which frankly has been hard while trying to not get Covid as an underpaid essential worker. 

[Deleted]

Since this thread has been revived and I missed it on the first go ‘round, I’ll play.

I only have one CC. I pay it randomly. I at least pay it every other week (when I get my paycheck), but there are times like today, when I know it has a balance, and I’d prefer it didn't, so I want to go ahead and pay it. Because of that “feeling”, I sometimes pay my CC a few or several times/month.

Paying it biweekly, I don’t have to worry about missing a due date. I don’t have anything set on auto pay and probably won’t for the near future.

I regularly use my CC instead of my debit card, the only action my debit card gets is the rare trip to the ATM (I don’t often carry cash either). But I don’t pay my bills with my CC, I pay them from my checking account. I’m slowly coming into 2021 and the age of technology, but the key word is “slowly”.