Will Automatic Payment For Credit Cards Help My Credit Score? – Episode #11

Today we’re talking about direct debit or auto pay for your credit card and how this impacts your credit score.  This is something you want to set up already just to have your credit card automatically paid off from your bank account each and every month. Now, the companies vary on how they do this and in the case of American Express they let you either pay the minimum balance or pay your balance in full — we of course recommend that you pay your balance in full and here’s the form that I got from American Express — I just called in the 800 number on the back of my card and they send me this form and while it’s a few pages long, there is only one page that you have to fill out. On this page you fill in your credit card number, your account number, your routing number and sign it send it back and within a week or so you should be set up on auto pay and this means no more late payments, no more late fees and your credit score should move higher.

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