Should You Pay Your Credit Card With Auto pay?

Should you pay your credit card with auto pay? This is a question I get asked frequently. Find out my thoughts on using auto pay to pay your credit card bills. I also discuss how I save money by using credit cards for all my purchases. For more great videos subscribe to travel explore click below.

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[averagebloke]

I have auto pay set up but I don't even use it really just as a backup.

[HGB]

You can have autopay set up and still pay every 2 weeks.

[eliteoutdoors]

New video idea: Auto pay let’s your full statement balances report to the credit agencies. This can hurt you. I have always used auto pay while still monitoring my transactions. A few years ago I started using capital one spark for my business and had no idea what it was doing to my personal credit profile. I would let the balance rise to $30-$40k each month before paying off in full after the billing cycle had closed. Now I know I’m the 12th of each month whatever balance is on that card will report to my credit as the balance on that account so I make sure to pay it down to zero on the 10th or 11th. This could also be useful for beginners with low limit cards. Pay it down before the billing cycle ends so it doesn’t report too high of utilization!

[maxinef]

I just set up an alert before the bill is due. I pay the bill in full every month since I treat my credit card like my debit card, meaning when I use my CC I subtract that amount from my checking account balance. This way I never over spend and I am able to acquire points to put towards travel.

[stanlee]

I don't use auto pay because I want the credit card company to report a small balance at the end of each statement. I will pay that off right after the statement so I don't incur any interest, but if auto-pay pays off everything before the statement, the credit card doesn't get reported to the credit bureaus as having been used.

[robertowhyte]

Love your vids brother. I do the same but have autopay as a backup incase I get busy and forget.

[HB-yqgy]

Makes a lot of sense. I do have the minimum set so I don’t get hit with finance charges.

[Stupranos]

I have my phone bill set for auto mainly cause I save $5 per line and it’s always the same amount.

[armyrenteria]

I use autopay for 4 of my 7 credit cards and it’s great. The other 3 I pay every few days when the transaction post. (I use credit cards like debit cards, in that if I don’t have the cash in checking I won’t make a purchase)

[DavidMossMGS]

I pay my cards off multiple times a week expect my Amex charge cards. I hold out on those till the bill is due so they will raise my limit over time.

I use autopay as a backup for all my cards
It’s hard at times to manage 17 cards

Don’t want to mess up and have a late payment for no reason

And you never know if you’ll get into a car accident or hurt etc and can’t physically pay the bill

[armandosanchez]

I pay all my cards every night b4 I go to bed.

[hipdadip]

I agree wholeheartedly! I like to pay manually because it keeps me actively thinking about each card and purchase individually!💳

[IkaikaArnado]

Auto pay should always be set up as insurance in the case you don't pay manually.

I'm veering away from the "pay your accounts down every week" mentality. Especially for people good at budgeting.

For those who keep good track of their spend they'll make more money in interest holding that payment in a high yield savings and/or money market account.

Then simply pay down the balance a few days before the statement hits to keep your utilization low to keep ones credit score high.

A lump sum payment makes no difference in terms of effect on credit score or utilization. It will, however, allow you to accumulate more passive income.

[bionicwoman]

You can still do that and use autopay that's what I do and its for the minimum so I dont miss a payment I still check my credit card accounts every day. Autopay has nothing to do with it. I pay down my credit cards weekly and pay my statements in full. Also do do you use autopay to charge your credit card Netflix for instance? Autopay doesn't stop you from checking your account.

[luisthefixer]

I havr auto pay on, I have it as a back up! Just in case of an emergency! ! I always pay the cards when the charge post or the end of each week.

[ytgamers]

i try and keep track every week i have a day i go over my accounts to make sure everything is fine. I also try and pay off my CCs in full before the due dates. How ever i do have auto pay set up just in case i forgot or life gets in the way. I have only let it hit the auto pay like one or 2 times in the past but its a nice net just in case.

[adrianp.]

I have a 200 credit limit and just got a card about to start credit. Should I avoid auto pay

[thejoehillexperience]

I totally agree with your thoughts on this. Great video!

[canubeleiveit]

I use auto pay, but I also look at all my credit card balances daily!! OCD is a bitch😂

[toochiesmith]

Autopay doesn't have nothing to do with your credit card statement. Autopay is for you wont forget to pay your credit card. This video is a thumbs down for me👎🏿.
Also I autopay more than the minimum and forget it. I know exactly what's coming out of my bank account.