Using Automated Payments for Your Accounts
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More than 51% of all Americans have more than two credit cards in their name. The reasons for having a variety of different credit cards vary from person to person, but may include reward programs, safety measures and a strategy to improve your credit score. Owning and using multiple credit cards have may benefits, but the perks can only be taken advantage of if consumers handle the credit lines wisely and pay their bills on time. Using automated payments for your credit card accounts is an excellent way to help ensure that the bill payment are kept up to date.
Most national credit card companies offer their customers the ability to set up automated payment plans. Consumers just need to complete a simple form authorizing the card company to take payment from the checking account of choice. If you opt into an automated payment plan through your credit card provider you can establish the payments to be a fixed amount, the monthly minimum payment, pay the balance in full or choose to pay a percentage of the balance.
Automated payment plans can be set up to pay a full range of bills and services. Automatic bill plans can be set up not only directly through credit cards, but through your online banking system by setting up a standing order and your local utility companies. The electronic process is secure and eliminates the hassle of writing paper checks and mailing your bills in a timely fashion.
