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Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. SHARE: Johner Images/Getty Images May 17, 2022 Checkmark Bankrate logo How is this page expert verified? At Bankrate, we take the accuracy of our content seriously. "Expert verified" means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Their reviews hold us accountable for publishing high-quality and trustworthy content. Meredith Hoffman is a personal finance writer covering credit card news and advice at Bankrate. She is originally from Columbia, S.C., and received her bachelor's degree from the Univ. of North Carolina at Wilmington. Before joining Bankrate in October 2019, Meredith worked as the news editor of Wilmington’s local newspaper, The Seahawk. Brady Porche is an editorial director for Bankrate Credit Cards and CreditCards.com. He has two decades of professional experience as a writer and editor. Bankrate logo The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Bankrate logo The Bankrate promise
At Bankrate, we have a mission to demystify the credit cards industry — regardless or where you are in your journey — and make it one you can navigate with confidence. Our team is full of a diverse range of experts from credit card pros to data analysts and, most importantly, people who shop for credit cards just like you. With this combination of expertise and perspectives, we keep close tabs on the credit card industry year-round to: Meet you wherever you are in your credit card journey to guide your information search and help you understand your options. Consistently provide up-to-date, reliable market information so you're well-equipped to make confident decisions. Reduce industry jargon so you get the clearest form of information possible, so you can make the right decision for you. At Bankrate, we focus on the points consumers care about most: rewards, welcome offers and bonuses, APR, and overall customer experience. Any issuers discussed on our site are vetted based on the value they provide to consumers at each of these levels. At each step of the way, we fact-check ourselves to prioritize accuracy so we can continue to be here for your every next. Bankrate logo Editorial integrity
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Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate logo How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. If you’re tired of having to remember to pay your credit card balance or manually each month, consider inquiring about autopay options offered by your issuer. Automatic payment options are offered on many billing platforms such as utilities, subscription services and memberships. Despite the prevalence of autopay in other industries, however, many consumers find autopay to be confusing when it comes to credit cards. Here’s what you need to know before enrolling in autopay with your credit card issuer. What is autopay
Automatic payments or “autopay” is a feature offered by most credit card issuers that allows you to have your balance or minimum payment automatically paid from a bank account when your is posted. You can set up autopay with your credit card issuer over the phone or online. The payment may come out of your bank account on the or your credit card issuer may allow you to choose another payment date. You can discontinue the feature at any time. Who offers autopay
Issuer Automatic payment options Chase Enrollment available online, in the mobile app, over the phone at 1-800-935-9935 and in person at a local Chase branch Discover Enrollment available online, through the mobile app or by calling customer service at 1-800-347-2683 Barclays Enrollment available online, through the mobile app or by calling customer service at 1-888-710-8756 American Express Enrollment in autopay available online, through the Amex app or by calling American Express customer service at 1-800-528-4800 Capital One Enrollment available online, through the mobile app or by calling customer service at 1-877-383-4802 Bank of America Enrollment available online or by calling customer service at 1-800-432-1000 Wells Fargo Enrollment available online, through the mobile app, over the phone at 1-800-869-3557 or in person at a Wells Fargo branch Autopay options
If you decide to enroll in autopay with your issuer, you will be presented with three options: pay the minimum, pay the full balance or pay a fixed amount. Pay the minimum: Automatically paying your minimum can ensure that you aren’t hit with late fees if you forget to pay your bill on time. Minimum payments vary, with some issuers charging a flat rate, such as $25 a month, while others charge a certain percentage of your total balance. As with manual payments, only paying your minimum will cost you a lot in interest over time, so if you enroll in autopay at the minimum amount monthly, be sure you’re making supplementary payments often to avoid getting into long-term debt. Pay full balance: When it comes to credit cards, paying your monthly balance off in full is always the best practice. If you choose this option for autopay, be sure that your checking account has enough money at the time of the automatic withdrawal each month. If a payment posts to your account and you incur an , you could be hit with overdraft charges and a return payment fee from your issuer. Pay a fixed amount: This can be a good debt reduction strategy if you’re steadily working to pay off a large balance because you can tackle your debt with payments that work for your budget. However, keep in mind that paying anything less than your full balance results in added interest. If you’re worried about , setting up autopay for a fixed monthly amount can offer you peace of mind. The benefits of autopay
The most obvious benefit of setting up automatic payments is that it saves you from and that occur when you forget to pay your credit card bill. When life gets hectic, it is easy for a payment deadline to slip through the cracks. If this happens, services like automatic payments offer backup to make sure you never miss a payment. Setting up automatic payments gives you the freedom to use your credit card and earn rewards without the hassle of remembering to pay your balance monthly. Things to consider before enrolling in autopay
While autopay is certainly convenient, it may not be for everyone. Before enrolling in autopay, take note of your current and decide if now is a good time to take your eye off your charges. Autopay makes paying your bills a simple process, but it also means that you may spend less time and spending habits. It’s also important to monitor your account to watch for or accidental overspending. When you set up autopay with your credit card, you also run the risk of an overdraft if you spend more than expected. The bottom line
The value of autopay depends on how you use it. If you’re looking for extra protection against the added fees that come with forgetting to pay your balance, then autopay could be a great option for you. But, if you forget to check your credit card activity regularly, setting up autopay could lead to more problems down the road. Autopay is a great way to ensure that you never forget a payment deadline, but it can’t replace the important practice of diligently monitoring your accounts and spending habits. SHARE: Meredith Hoffman is a personal finance writer covering credit card news and advice at Bankrate. She is originally from Columbia, S.C., and received her bachelor's degree from the Univ. of North Carolina at Wilmington. Before joining Bankrate in October 2019, Meredith worked as the news editor of Wilmington’s local newspaper, The Seahawk. Brady Porche is an editorial director for Bankrate Credit Cards and CreditCards.com. He has two decades of professional experience as a writer and editor. Related Articles