How’s it going? Everybody? Business beat the Bush. Well, first of all, let me remove this. Get it over here. This is my scooter helmet or my bicycle helmet. Uh, or snowboarding helmet. Even typical sunglasses I go for free music gloves happened. Active fabric, so I can use a smartphone but it doesn’t work very well right now. I think they’re too old.
Remove this so I can talk. Okay. Everything off. Today I want to talk about how to set up auto-pay on your bank of America credit card. I’ve made a video on this before but they changed the website so you can not follow along anymore, so I’m making this brand new video so that it is clear on how to do it. Before I begin, let me give you an outline of basically what it is. You get the credit card. If it’s a brand new credit card, select to e-bill, make sure that you can receive a brand new e-bill. Then you have to wait up to one statement cycle before they would issue a bill before you can even get this activated. Then when this happens, you can then go in there and say auto pay, which then will open up the option for you to select to pay the statement amount because if you opt to just auto pay without doing this e-bill thing, the way it works is that it does not know how much the bill is so we cannot pay some amount that it doesn’t know, so all it will let you do is to pay a fixed amount.
You can pay a hundred dollars $200 or whatever every single month, but this is not what we want. We want to pay the statement in for whatever it is, $199 a $9 and 55 cents or whatever. You just want the pay the full amount so that the credit card balance goes back to zero so that when you use it the next month they will not charge you interest and this is the preferred way to use a credit card for all my credit cards that can set up autopay. I turn it on for credit cards that do not. I have to be super-duper careful. I have to always remember that it does not have auto pay and I have to go in there and manually pay it and this is a big hassle and a huge reason for why I would cancel those credit cards and not use them at all.
A long time ago when I had credit cards, I remember Dave did not have this auto pay thing. This is a pretty new development, so back then I actually have to wait to receive a piece of mail basically and then when I get the piece of mail I’ll go, okay, there is a bill, then I have to write a check, I have to put on a stamp and then I have to mail it in this way of doing stuff. It’s a really old style and it’s very easy to miss because sometimes maybe you misplaced the piece of mail, maybe sometimes a piece of mail gets lost. Maybe you get the piece of mail and you mean to pay for it, but then you somehow lose track of it. This auto pay thing is essential to keeping your credit score high. Once you set it up and you should always set up auto-pay in full statement for every single credit card that you have.
This will almost ensure that you have a great credit score because you’re always on time. All you have to do is make sure that whatever checking account that you use, always have a good buffer amount of money to pay off whatever that it’s to do with the asset. Let me get to how to do it with a clear example from the website first, log into your bank of America account. Go to the bill pay tab and click the payment center. Once you’re there, look for your credit card and click on autopay. Now, this is not what you need to do first, but I’m just going to show you. You click to set up auto-pay right now. Here you’ll see you can enter your amount, but this is not really what you want and you can set whichever day, set the frequency to monthly, but what you want to do is set up to pay the statement balance, not a fixed amount.
Go back to the payment center screen for your credit card, click [inaudible] bills and then click get my bill here. Now your screen might not look exactly like this because you have to wait until a statement cycle goes through and then you can get an e-bill. Right now I have an e-bill right here that I already can accept. They want you to put in your social security number here, so do that. If it’s a brand new credit card, you need to enter a bunch of information about the credit card, click add and then click submit. Then you have to wait for the bill to come before you can proceed to the next step. When the bill finally comes, you’ll see that e-bill is turned on with that little green sticker. Now click on autopay, set up auto-pay, and then this option finally appears where you can pay each bill automatically click set up based on the bill and now you can select the amount due and not just some predefined amount.
You can also limit the maximum amount that you will auto pay and then you set the delivery day. I’m just choosing due date here, and then click start sending payments. Now note that it says it’ll take effect on the delivery of your next e-bill. So this whole ordeal might take two billing cycles to finish. Thanks for watching this video. I hope this tutorial helps you guys out and make sure that you do not miss a bill at all. Don’t forget to give me a lay comment down below. Let me know if this helped you. Push that subscribes button and ring that bell icon. Thanks for watching it.