Paying credit card bills online is easy to set up. It allows people to have more control over their bill paying, and do it in a shorter time each month. As this article notes, however, different types of bills will need to be managed in different ways.
It can be much easier and more reliable to pay credit card bills online. The process saves time, money, and stress! It’s not difficult to set up online bill payment, and it can be done very quickly.
Step One: Organise Your Bills
The first step is to arrange your bills into three envelopes. In the first, place all of the bills that cost the same amount each and every month (cable bill, loan payments, etc.). In the second, include monthly bills that change (electricity, credit card payments, etc.). The final envelope should include bills that are not paid regularly.
Step Two: Manage The “Regular” Expenses
The first envelope’s bills can be easily managed with automatic draft, which can be set up with the company or through your financial institution. You may find that the company charges a fee for this service, while many banks off it for free, so see which is right for you. If the company does not charge for the service, then you may also choose to pay with a credit card (paying off the balance each month, of course!) to take advantage of special offers from the credit card company.
It is worthwhile to do these types of transactions only with bills that do not change each month, for obvious reasons! The regularly occurring bills can be set up on the bank’s website, and free technical assistance is usually available.
Step Three: More Hands-On Billing
The companies with bills in the second envelope will also need to be set up as recipients for transactions, but in these cases you will simply enter the amount to be paid each month, whether it is managed from a bank account or a credit card. Once the information has been entered, however, all that will need to be changed each month is the amount due, and voila! The bill is paid. Just be certain to note the transaction number once the bill payment has been processed, for your own records.
The third envelope can be managed much like the second, but the recipients will be accessed much less frequently. Still, having everything already entered on the computer website will make things much smoother for future use! Do remember to schedule the credit card bill payment a couple of days before the actual due date, to avoid processing delays, and to follow up periodically to make sure that things are running smoothly.
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