![]() ![]() You've logged in or called in your automatic payment and set the amount of your payment: but don't think your job is finished. What to check after you set up your automatic payments When setting up automatic payments to cover the full balance of your account, make sure that you are setting payments with a bank account that can cover the balance. Paying off your entire credit card balance each month is another strategy that can help reduce your debt and improve your credit score. By paying off your card's full balance each month, you can also avoid interest charges and late fees that may come into play when maintaining a high balance. If you are looking to reduce a credit card balance, setting a specific amount above the monthly minimum payment can help reduce your overall balance. Be aware, however, that if you spend on the card, your minimum monthly payment can increase. ![]() If you usually pay the monthly minimum on your credit card, you can select this option to help ensure that you don't miss a payment. There are various payment strategies for setting up automatic payments: Minimum payment How much to commit to an automatic credit card payment If you hit automated reception, mention "automatic payments" to connect you to a representative that will walk you through the enrollment. By phoneįind the credit card's customer service number on the back of the card and dial in. If you already have the app, search for "bill payments" options to find the screen that can enroll you in an automated program. Many credit card apps include opt-ins for automatic payments. You will likely need to provide your bank account information to tie to the payment and agree on a date that matches your current payment schedule to complete the process. Try finding an option to pay your bills then look for mentions of "automatic payments" or find a chatbot to answer the question. OnlineĬhecking in with your account online should allow you to easily search and find "automatic payments" options. Three ways to set up automatic paymentsĬredit card companies make it simple to set up an automatic payment method, so pick the way that works for you. Let's look at how to set up automatic payments, what amount you may want set it to, and how to use an automatic payment strategy to build and sustain a strong credit foundation. Setting up automatic payments for your credit card balances can help you avoid late payments, which can help you build your credit score. ![]()
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