How much of my credit limit should I be spending each month?

[tjthemanto]

Does the extra money just carry over to the next month? Are you telling me that you have a balance of $0 on your card and you just add money to it, for example, $100, because you know that you'll end up spending that much on commuting in the coming month? I just went to my bank and paid off my bill ahead of time :D WOOHOO. I'm going to do that all of the time now because the bank is so close. No more stress for me

Yes ..it carries over . You can have a ( + ) balance on your credit card and all future expenses get deducted from it first.

Suppose you buy something and pay off your CC bill.

Later on for some reason you have to return and refund the item , now you will have a credit ( + ) on your bill due to the return

Why don't you pay online or thru automated telephone banking ? Just add the CC as a bill payee..no need to physically go to the bank .

[Shwa Girl]

I just went to my bank and paid off my bill ahead of time :D WOOHOO. I'm going to do that all of the time now because the bank is so close. No more stress for me

Yes! That's how you beat them at their game. Shhh! Only you, me and this private internet site will know. Don't tell the credit card companies. Shhh!

[Baggravation]

Yes ..it carries over . You can have a ( + ) balance on your credit card and all future expenses get deducted from it first.

Suppose you buy something and pay off your CC bill.

Later on for some reason you have to return and refund the item , now you will have a credit ( + ) on your bill due to the return

Why don't you pay online or thru automated telephone banking ? Just add the CC as a bill payee..no need to physically go to the bank .

I don't understand What's a bill payee? I have a credit card with RBC but they take the money from my TD bank account. Are you saying I can set up my CC so they take out the money as I use my CC instead of at the end of the month? BTW, thank you You've been a great help!

[sweet sparrow]

I don't understand What's a bill payee? I have a credit card with RBC but they take the money from my TD bank account. Are you saying I can set up my CC so they take out the money as I use my CC instead of at the end of the month?

On your bank chequing account, you should have the option to make bill payments. By entering in the company name (like RBC Mastercard) and your CC account number, you can make payments either online, by phone, or set it up in-branch. There are even companies that you can give direct access to automatically withdraw the money from your account when the bill comes in so you never have to worry about a late bill payment with them (though I don't personally like this practice).

With some savings accounts, you can set up a pre-determined pay date. For example, you can set up a payment for $500 to your CC today to be made next week. For my savings account, at least, this is not automated and it would need to be done each time.

[Baggravation]

On your bank chequing account, you should have the option to make bill payments. By entering in the company name (like RBC Mastercard) and your CC account number, you can make payments either online, by phone, or set it up in-branch. There are even companies that you can give direct access to automatically withdraw the money from your account when the bill comes in so you never have to worry about a late bill payment with them (though I don't personally like this practice).

With some savings accounts, you can set up a pre-determined pay date. For example, you can set up a payment for $500 to your CC today to be made next week. For my savings account, at least, this is not automated and it would need to be done each time.

Oh, thanks a bunch! So I would set this up with TD bank as I have my chequing account with them? I just want to clarify this so I know I understand fully. By setting this up, I can authorize TD Bank to make payments to RBC for my CC as soon as I make a purchase on my CC? I already have something set up that takes money from my chequing at TD and pays the full amount to RBC at the end of the month however, I don't want to wait until the end of the month. I'd rather pay as I purchase so I can keep better track of my money.

[tjthemanto]

Oh, thanks a bunch! So I would set this up with TD bank as I have my chequing account with them? I just want to clarify this so I know I understand fully. By setting this up, I can authorize TD Bank to make payments to RBC for my CC as soon as I make a purchase on my CC? I already have something set up that takes money from my chequing at TD and pays the full amount to RBC at the end of the month however, I don't want to wait until the end of the month. I'd rather pay as I purchase so I can keep better track of my money.

You need not pay as soon as you make each and every purchase on your CC , that's too much bill payments.

If you just call the number at the back of your CC , it will tell you your outstanding balance , available credit , last 10 transactions etc. its automated , so you don't even have to speak to anyone.

They ( automated ) will ask you to enter your 16 digit CC number and your D.O.B or last 4 digits of your phone no. Or something like that.

Do it once a week or so , if you are worried and want to check.

Also you can register Online on RBC website , so after logging in ..you can check your transactions.

Just like right now you check your TD account online , you can check your RBC CC account online. You don't need a bank account with RBC to do that , you can just check and register your RBC visa online and login , to check your balance etc.

[tjthemanto]

I don't understand What's a bill payee? I have a credit card with RBC but they take the money from my TD bank account. Are you saying I can set up my CC so they take out the money as I use my CC instead of at the end of the month? BTW, thank you You've been a great help!

If they are already taking the payment automatically at the end of the month , you need not pay in between .

But if you want to , then by internet banking or telephone banking you can pay the CC bill , just like you pay your telephone bill , utilities bill etc through your bank account.

You have to first register the bill and then pay by selecting the bill. See steps below.

Register a bill payment


It's easy to register a bill payment:


1. Log in to EasyWeb using your Access Card number and EasyWeb password
2. Click the Payments & Transfers link
3. Select Add Payee from the left-hand menu bar under Payments
4. Enter the Billing Account Name in the Business name field
5. Make your specific selection from the results provided and enter your account information

Bill payment in EasyWeb


It's easy to make a bill payment in EasyWeb:


1. Log in to EasyWeb using your Access Card number and EasyWeb password
2. Select Pay Bills along the left-hand menu bar
3. Place a check mark beside the bill you'd like to pay
4. Click on Pay Selected Payee(s) (right-hand corner of page)
5. Fill out the remaining details to process the payment

[Baggravation]

If they are already taking the payment automatically at the end of the month , you need not pay in between .

But if you want to , then by internet banking or telephone banking you can pay the CC bill , just like you pay your telephone bill , utilities bill etc through your bank account.

You have to first register the bill and then pay by selecting the bill. See steps below.

Register a bill payment


It's easy to register a bill payment:


1. Log in to EasyWeb using your Access Card number and EasyWeb password
2. Click the Payments & Transfers link
3. Select Add Payee from the left-hand menu bar under Payments
4. Enter the Billing Account Name in the Business name field
5. Make your specific selection from the results provided and enter your account information

Bill payment in EasyWeb


It's easy to make a bill payment in EasyWeb:


1. Log in to EasyWeb using your Access Card number and EasyWeb password
2. Select Pay Bills along the left-hand menu bar
3. Place a check mark beside the bill you'd like to pay
4. Click on Pay Selected Payee(s) (right-hand corner of page)
5. Fill out the remaining details to process the payment

Thank you very much!!! :D I think I understand all of this now!