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Posted in Paying Your Bills
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Question By
Tigersslave

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Is it better to pay your Bill early or wait for the Auto Pay I set up to pay?

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Auto-Pay

Helpful to 32 out of 32 people

I have a couple checking accounts. One for Bills to AUTOMATICALLY come out of and one for everyday spending like gas and groceries. It has completely changed our financial situation. I have all my accounts come out of my Bill Pay account automatically. All I have to do is know the total ablance of all my bills and make sure there is enough money to cover it all. Another tip is to try to have all your bills come out at the same time. I have almost all my bills coming out on the 15th of each month. I know how much i need and I add money throughout the month to come out at that time. It is way less stressful than paying each individual bill. I still check my invoices monthly for irregularities but that is pretty much all i have to do besides a simple bank transfer between accounts. Hope this helps!

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12 People Helped

Been There

Helpful to 12 out of 12 people

If you have the money to pay the bill early PAY it!  If you wait and let the auto pay make the payment you may spend some of the money and then have a problem paying your bill. I always pay my monthly bills as soon as I can then start looking at next months bills. In the end you never have late payments and your credit score will go up.    

Reply by
StarFlakes87

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Helpful to 2 out of 2 people

Credit as being Credited!

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17245 Contributions
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Helpful to 12 out of 13 people

I'd say it depends on what your auto-pay is and what you have charged.  If auto-pay is set up to pay the full balance owed on the card, just let it go that  way.  If it is for just the minimum payment, you really want to strive to pay the balance in full every month, which will save on interest (which is throwing money away) and help your score.

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6017 People Helped

Depends

Helpful to 50 out of 95 people

You should pay whenever you can but if you decide to wait for auto pay try not to make the minimum

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13 Contributions
10 People Helped

Helpful to 5 out of 6 people

My opinion is that you always pay just as soon as you can - I make certain to always pay before the next statement date. If you have a balance, and if you pay that balance before the statement date, it then gets reported to the credit bureaus as your account with a zero balance. Wait until after the statement date, but before the due date - and your account will be reported as with a balance. Always pay the very earliest that you can. I have some accounts that I pay several or more times a month - I pay them as soon as the charge is on there. The unpaid charges are never on there long enough to be reports as accoun t balances. Always pay the very earliest that you can!

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4 People Helped

Pay Off ASAP

Helpful to 4 out of 5 people

Get out of debt sooner as opposed to later. Reason being the less debt the more financial freedom you will have. Don't worry about your credit score worry about getting out of debt and acquiring wealth. 

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2 People Helped

Do I or don't I...

Helpful to 2 out of 2 people

I pay the moment they come in and always pay more than min although life has an elderly mother on limited income and i can only do the min due to high cost of perscriptions so she don't go with out. Family's always more important..

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2 People Helped

Depends

Helpful to 2 out of 2 people

Personally, I like to pay my bills as soon as I get my check, preferrably scheduling them at the latest the day before my check so they come out the same day my check hits the bank. But my car insurance gives me a discount for being on auto-pay, and I know some cell phone companies (T-Mobile for example) and student loan payments do as well. So, it really depends on the company the auto-pay is set up with. Any company that doesn't offer perks, I say pay it right away.

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1 Person Helped

which card(s) to close

Helpful to 1 out of 1 people

Hey All!

So I have 4 cards  2 paid off,  2 with balances. 

Would it be wise to close the ones with 0 balance that I have had less than 2-4 years? and keep the ones that are 7-10yrs old?

All the identity fraud lately has got me worried.

Reply by
shidabear

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Helpful to 3 out of 3 people

Enter Your Replydont you dare close them your score will drop drastically keep them but dont use them for a few months

Reply by
PhoneyBaloney19

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0 People Helped

I closed my new-ish accounts, my credit defintely took a hit. 

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Reply by
mollydee

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Helpful to 0 out of 2 people

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