Business Platinum Card from American Express
130,000 MR points
I Sometimes… Miss My Credit Card Payments?!
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Business Platinum Card from American Express
- Earn 90,000 MR points upon spending $15,000 in the first three months
- Plus, earn 40,000 MR points upon making a purchase in months 14–17 as a cardholder
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- Credits and rebates for business expenses throughout the year with Amex Offers
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- Qualify for the card as a sole proprietor
- Annual fee: $799
18 Comments
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I’m using a Macbook Pro so I just have the ‘stickies’ (yellow sticky note) app as an overlay on the desktop off to the side with all my cards’ details on there plus when applicable I set up autopay, especially with amex, and my main visa/mc
When ever I get a new Credit card I phone the credit card and set up auto pay out of my TD bank chequing account.
One phone call per card and problem solved.
I have used TD autopay to pay off CIBC, Royal Bank, AMEX credit cards no problem.
Never a late fee.
To lazy to do it an yother say.
I have an excel with the list of all my credit card and some other payment (tax, etc) with their statement date (list order by those date ) and a few column for amount to pay, date limit, date of payment. I print it at the beginning of month and I fill those few column when necessary base on those date limit. This print out is allays on my desk so I know when I have to do some payment. And I have those reminder email from my credits cards. I don’t like the pre-authorized thing, I prefer to ‘stay’ in control what is going out of my bank account. And some time, when the amount is not to high, I can pay ‘in advance’ to help make my credit score to go higher (after a few hit on my credit score).
That’s dedication! I do agree with the mindset of "staying in control" of what’s leaving my bank account.
I found with CIBC Visa – to get auto pay of the Visa from a CIBC chequing account working – I had to have them snail mail me an auto-debit form which I then had to fill in, scan and ‘fax’ it back to them (using faxzero.com). Meanwhile – for my US credit cards I just fill in a web based form on their site to set up auto pay from my RBC Bank USA account.
Yep, I’ve found Canadian Big 5 banks to be particularly bothersome in terms of setting up pre-authorized debits from other banks.
I just use mint.com to track all my card balances and pay them all off about once every week or two, so it doesn’t even matter when each card’s statement date it. Have never missed a payment.
For a busy life, I still prefer the auto-debit from my cheque account every month is the best way for me not to miss any payments.
Better safe than sorry, I suppose. I do understand that perspective.
Pay off any balances in full on the 15th and 30th of every month. Makes things simple, and the habit has stuck.
I have a weekly reminder on my phone to pay my bills every Sunday.
I log into all my bank accounts, check the balances, then pay them all from my chequing account. Takes 2 minutes
That’s pretty much what I do (Sundays as well), without the reminders. Maybe it’s time to add them.
A tip: For those cards you use every month or two, set up an automatic payment of, say, $30 each month for 3 days after the statement cut off date. That way, even if you miss the payment that month, you have paid the minimum payment and will not incur the late fee or damage to your credit. You may be charged some interest, but not much. Then pay the balance closer to the payment due date.
I used YNAB. It’s a godsend for more than just never missing CC payments.
I’ve heard good things about them too.
I’ve added monthly recurring calendar alerts to remind me to pay my bill 1 week out from due date. That, coupled with a customized monthly paper calendar that I print out (like a cave man) and update each month with all my expenses and due dates detailed.
Thanks Ricky! At first I thought that wasn’t a sexy topic but found it interesting, especially the part that a few days delay in paying isn’t notified to the credit bureau. We have about 30 to 40 credit cards so it’s impossible for me to remember to pay in time. So all my cards are set-up to autopay. Some people pay their balance every week, before the statement posts so no balance is reported to the credit bureau but this would be highly impractical for us when it’s time to split expenses (who paid this? who paid that? was that from the joint account? from my personal account??) as it adds an extra layer of complication to a situation that is already quite complicated.
I know my credit score would be better if I paid before the statement is issued but autopay is the compromise I found to stay sane and keep P2 happy.
Sometimes you gotta broach the un-sexy topics 🙂 Appreciate the input Mae!