Q: Is there any way to pay my credit card bills faster, like the same day? 95% of the time I have no problem paying before the due date but sometimes when I am busy I don’t get to my bills until a day or two before their due date. My bank takes 3 or 4 days for online bill pay, is that the quickest I can do?
A: I totally understand, as that is a predicament I think all of us find ourselves in at least once in a while. In fact, not too long ago I had that happen with one of my Chase credit cards but luckily, I caught it just in time – the online bill pay arrival date (72 hours later) was also the due date.
However if you’re down to the 11th hour and need to make a same day payment you may have a few options available:
Same day payments through the credit card company
If you already have your bank account linked to your Chase cards, you might be able to make a payment the same day but you will have to do it through Chase.com and not your bank. However this is what is says for payments made after 5 pm Eastern:
Note: If it is after 5:00 PM ET and your payment is due today, please call the number on the back of your card and speak to a service specialist. A fee may apply for same day payments made with the specialist.
The Chase same day payment fee can vary by account but there’s a good chance it will be lower than a late payment fee. In addition to Chase, some other credit card companies offer this.
Same day payments through your bank
Some banks offer the option of ponying up a fee for a faster bill payment – sometimes by the same day, other times by the next business day. If you are doing it past 5 PM Eastern it will likely be next biz day (unless you are paying a card that’s also issued by your bank).
The Bank of America Quick Payment gives you the ability to do this. The fees vary depending on which company is getting paid, but next day payments to outside companies usually run $10 and same day payments (if available) vary by region and company.
Bank of America isn’t the only one that offers this, so check with your bank to see if this an option.
Bill payments through Western Union
Western Union is quite expensive so I would only turn to this route as a last ditch effort. But if you are a willing to be hit with the hefty fees, you can pay credit card bills through Western Union. Not all card issuers allow this option and if you are doing it past 5 PM EST it may not work. Call your card’s customer service to find out whether the Western Union route would work for you.