The Benefits of Autopayments for your Credit Cards
Paying your bills on time is key to improving your credit score, and managing credit card debt effectively is equally important. Setting up autopay for your credit card payments is a practical solution to achieve both objectives. Here’s everything you need to know.
What Is Auto Pay?
Autopay allows you to automate your credit card payments by scheduling a fixed amount to be withdrawn from your bank account. You can choose to pay a specific amount, the full balance, or just the minimum payment due, ensuring your credit card balances are managed effortlessly each month.
Benefits of Auto Pay
The benefits of autopay are simple: You don’t have to remember to pay your credit cards every month. Getting behind on credit card payments is a slippery slope. The interest starts piling up quickly, and if you get way behind, your credit score can suffer. With autopay, the work is done for you every single month.
How Much Should Your Auto Pay?
Ideally, the process for setting up autopay starts with how much you charge to your credit cards each month. You never want to rack up balances that you can’t afford to pay off in full. So you want to start there: Keep your credit card charges manageable. When you do set up autopay, the best course of action is to set it to pay your complete balance each month.
Do One Thing: Even with autopay, make sure you check your credit card statements for any fraudulent or unauthorized charges.
MVCU offers a range of credit cards to fit your needs. Set up autopay with an MVCU card to simplify your payments and avoid late fees. Learn more about our credit card options today.
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Paying your bills on time is key to improving your credit score, and managing credit card debt effectively is equally important. Setting up autopay for your credit card payments is a practical solution to achieve both objectives. Here’s everything you need to know.