CREDIT CARD PAYMENTS
How to pay your credit card bill
Obviously you are not going to pay your credit card bill using another credit card, but there are multiple ways that you can pay off your credit card bill:
You can pay your bill in cash if your credit card company has a local bank branch.
Check, I have provided information on writing checks and balancing your checkbook here.
Online Bill Pay, which is common nowadays because of the advances in technology. Typically, the money will be taken out of your checking account and sent directly to the credit card issuer (whoever you owe the money too).
Money Transfer which is the electronic transfer of money from one bank account to a different account, sort of like online bill pay but is done via companies like Western Union
ACH (Automatic Clearing House), which is an electronic network of financial transactions- it costs money to use, so it may not be available by your lender, if it is you need to provide your bank account and routing number for the credit card card company, can be found on the website.
It is also possible to set up automatic monthly payments from your bank account, which avoids any possibility of forgetting to pay your credit card bill. Just keep in mind that even if you do set up automatic monthly payments, you still need to document and keep track of how much you are spending and how much money you have in your checking account to avoid any overdraft fees.
No matter what way you choose to pay off your credit card bill, the best time to pay off your credit card bill is ON TIME in full before your credit card due date. This date will be very clear and typically is within 21 days of the statement being made available.
You can pay your bill in cash if your credit card company has a local bank branch.
Check, I have provided information on writing checks and balancing your checkbook here.
Online Bill Pay, which is common nowadays because of the advances in technology. Typically, the money will be taken out of your checking account and sent directly to the credit card issuer (whoever you owe the money too).
Money Transfer which is the electronic transfer of money from one bank account to a different account, sort of like online bill pay but is done via companies like Western Union
ACH (Automatic Clearing House), which is an electronic network of financial transactions- it costs money to use, so it may not be available by your lender, if it is you need to provide your bank account and routing number for the credit card card company, can be found on the website.
It is also possible to set up automatic monthly payments from your bank account, which avoids any possibility of forgetting to pay your credit card bill. Just keep in mind that even if you do set up automatic monthly payments, you still need to document and keep track of how much you are spending and how much money you have in your checking account to avoid any overdraft fees.
No matter what way you choose to pay off your credit card bill, the best time to pay off your credit card bill is ON TIME in full before your credit card due date. This date will be very clear and typically is within 21 days of the statement being made available.