How does credit card autopay work?

For just about anything you want to get off your chest about credit cards.
3 posts
LadyinRed
Platinum Member
Platinum Member
 
Posts: 72
Joined: Mon Jul 23, 2012 8:14 pm
Location: Los Angeles, CA

How does credit card autopay work?

Postby LadyinRed » Tue Sep 11, 2012 12:01 pm

If you have your credit card set to auto-pay every month for the "statement balance" and make a smaller payment earlier, will the auto-pay still pay the full statement balance?

For example, let's say my statement closed at $1,000 for the month. I have auto-pay set up to pay the full statement amount. Let's say I paid $300 on it a few weeks early. When my auto-payment rolls around would it still pay $1,000 or would it pay $700 because I already paid $300 toward it?
AMEX: Blue Cash Preferred (6% on groceries, 3% gas & dept stores)
Capital One: Venture (2 points per $1, equivalent to 2%)
Chase: Freedom (rotating 5% categories), Disney Rewards (1 point per $1, Disney benefits)
US Bank: Cash+ (5% bookstores / 5% Electronic Stores)


jeffysdad
Centurion Member
Centurion Member
 
Posts: 875
Joined: Thu Apr 30, 2009 2:32 pm
Location: Texas

Postby jeffysdad » Tue Sep 11, 2012 12:44 pm

That depends on the bank. My experience has been that Chase will debit an amount to reflect what you paid; in other words, they won't cause you to overpay. The opposite is true of Citi and FIA Card Services, as far as I know. I think Discover will prevent you from making a manual payment if auto payment is set up. It's all over the road. You really need to call the bank and ask.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

LadyinRed
Platinum Member
Platinum Member
 
Posts: 72
Joined: Mon Jul 23, 2012 8:14 pm
Location: Los Angeles, CA

Postby LadyinRed » Fri Sep 14, 2012 2:28 pm

Just figured out that US Bank's Autopay will pay the full statement balance even if you already put a payment on it.
AMEX: Blue Cash Preferred (6% on groceries, 3% gas & dept stores)
Capital One: Venture (2 points per $1, equivalent to 2%)
Chase: Freedom (rotating 5% categories), Disney Rewards (1 point per $1, Disney benefits)
US Bank: Cash+ (5% bookstores / 5% Electronic Stores)



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 2 guests