Why AutoPay

AutoPay takes your monthly payment automatically from a card or bank account you have saved, on your due date, without you having to remember.

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What it prevents

A missed payment costs more than the payment. Depending on your account it can mean a late fee, a mark on your credit file, and — if you have a promotional offer — the loss of the offer itself.

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You can pay more than the minimum

AutoPay is not limited to your minimum payment. You can set an override amount above it, which is how most people clear a promotional balance before its expiration date — see Changing your AutoPay.

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What it does not do

It does not lock you in. You can opt out at any time — see Opting out of AutoPay. It is not a condition of your credit. Nobody can require you to repay by automatic payment as a condition of getting or keeping credit. If you turn AutoPay off, you keep at least one way to pay that costs you nothing extra — the portal and a mailed check are both free. Some programs offer a rate benefit for using AutoPay. That is an incentive, and it has to be set out in your agreement; it is not the same as a requirement. It does not change your terms. Your rate, schedule and balance are unaffected.

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What to know before you enroll

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Ready