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When it comes to credit cards, keeping on top of your bills is important to maintaining or building good credit. Considering that your payment history makes up a large part of your credit, even one late payment could negatively affect it.
The good news is that the act of paying your credit card bill doesn’t have to be hard. In fact, credit card issuers offer many ways you can submit payment. Let’s take a look at what your options are, and more details about what can happen if you end up making a late payment on your credit card.
Online Payments
Most, if not all, credit card issuers allow you to make credit card payments online.
There are different methods of transferring funds, including:
- Bill pay: Your bank may have this feature, where you use your checking account to transfer money to your credit card. The bank will likely have an autopay feature.
- ACH transfer: Much like bill pay, except you enter your banking details through your credit card issuer’s website. Information you’ll most likely need to include are your bank’s routing number, your account number, and the bank’s contact information.
- Wire transfer: Some credit card companies accept incoming wire transfers, whether that’s through your bank or money transfer services.
Depending on your individual situation, you can choose to pay online in different ways.
Set Up Autopay
Setting automatic payments from your bank account to your credit card each month is an easy way to handle your credit card bill. All you’re technically doing is setting something up, and you can virtually forget it.
To do so, follow the prompts on your credit card issuer’s website and head to the payments section. There, you’ll be able to find options on setting up autopay, including the date and amount you want to pay — it’s typically for the balance in full, the minimum payment due, or a fixed amount you choose.
When it comes to autopay, you still need to monitor your credit card account (we…
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