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Friday, January 13, 2006

Automatic Payment Draft for Credit Cards

Author: Zoran
Posted: Wed Jul 21, 2004 10:37 am
Post subject: Automatic Payment Draft for Credit Cards


10/16/2001 4:17 pm CDT

One thing I love about my Discover card is that the full balance is withdrawn from my savings account, thus ensuring that my payment is never late. Does anyone know of a Mastercard or Visa that offers the same option? I've searched high and low over the internet but haven't been able to come up with anything. Thanks a lot. BTW, I think this site is awesome.

P.S. I don't have a checking account and have no intention of ever getting one.


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Author: Board Monitor
Posted: Wed Jul 21, 2004 10:37 am
Post subject: Automatic Payment Draft for Credit Cards


10/16/2001 5:07 pm CDT

Zoran,

A load of card issuers now offer Automatic Debit from either your checking or savings account. These services are great, because they avoid the customer having to worry about missing payments, late fees, etc.

Some card issuers that offer such services are:

Chase
Citibank
First USA
Bank of America
AT&T Universal
Providian

Some issuers that require you to go online and authorize payments (so it's semi-automatic)

MBNA
American Express



Author: Zoran
Posted: Wed Jul 21, 2004 10:38 am
Post subject: Automatic Payment Draft for Credit Cards


10/16/2001 5:31 pm CDT

Alex,
I visited the sites of the six companies you listed but found nothing regarding automatic withdrawals from savings accounts. I have no idea why they would wish to hide this information. Anyway, I emailed two of them so I guess I'll have to wait and see what they say. Thanks a lot for your information.


CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!


Author: Board Monitor
Posted: Wed Jul 21, 2004 10:38 am
Post subject: Automatic Payment Draft for Credit Cards


10/16/2001 9:45 pm CDT

Zoran,

I know that they offer auto-payments, because I happen to have cards issued by them, and have had all of them on auto-payment.

For some reason or another, not all card issuers promote this feature, you really got to dig around for it

Take care,
Alex Daskaloff
http://www.creditcardfreedom.com

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