Managing Your Bills Saves You Money
Yes, there are about a zillion other, more exciting things youd rather spend your money on than your monthly bills movies, clothes, a round of drinks. While spending your money on that stuff delivers instant gratification and makes you feel good in the moment, the spending hangover just isnt worth it.
Other Strategies To Help You Build Your Credit Score
Payment history and credit utilization make up 65% of your score. Because these two factors alone comprise the majority of your score calculation, you should maintain a low balance and never miss a payment to beef up your score. If you’re already following these principles, here are four more strategies to help you build your credit score:
- Never cancel your first credit card. Unless it has an annual fee, you want to keep your oldest line of credit as long as possible, as this will help your average account age.
- Ask for a credit-limit increase, but don’t increase your spending. Call your credit card company for a credit-limit increase if you want to reduce your credit utilization ratio. This tactic will help your utilization score by decreasing your ratio.
- Open a new credit card and then set a recurring bill and automatic payment to that card. Setting up this small recurring payment will help both your overall utilization and your payment history.
- Pay off all your credit cards a few days before each statement closes if you’re applying for a loan soon. Paying off your cards early will decrease your overall utilization and boost your credit score for a few days.
Do You Always Need To Pay Off Credit Card Debt Aggressively
Paying down debt aggressively can reduce the amount of interest that will accrue on your account. Every situation is different, so you should consider the terms of your account, the interest rate you are paying, and other financial goalssuch as building an emergency fund or saving for a wedding or down payment on a home.
Knowing your options for how to pay off credit card debt can help make you make an informed decision.
Don’t Miss: Does Kroger Sell Visa Gift Cards
Create Alerts To Keep Track Of Bills And Payments
Depending on your preference, you can set different types of alerts to remind you to pay your monthly bills. You can create alarms or reminders on your phone, keep notes in your online calendar, or even write reminders in an old-school paper planner.
All that matters is that you find an alert system that works for you and that helps you remember the due dates for your monthly bills. If you want, you may even be able to change the due dates for your credit card payments so they fall on the same day as other bills so you can remember to pay on time.
This Article Is A Part Of Paycec Payment Insights

FollowPayCEC – global payment gatewayto get updates on the latest payment trends and ecommerce news
FollowShow more +Show less –
To stay competitive in the e-commerce market, online sellers need to integrate the best payment gateway which allows the customers to pay for their Discover card payment purchases. In this article, we will introduce you to the Discover card payment options and Discover payment gateway. If you want to explore the world of Discover payment and how to accept Discover online payment, it is time to get on board with us.
How to pay with a Discover card?
You May Like: How Can I Use Credit Card
Loving My Discover App
I’m just so in love with this app. I logged in this morning to review my credit portfolio and I’m so thrilled at the updated breakdown feature! Detailing my total revolving debt, my number of inquiries, any late payments, among others! You know what I’m most excited about though? The fact that I know Discover is likely already working on ways to improve on this feature and I already LOVE it so much! So I’m sure I’ll be blown away when another update hits. Understanding my credit portfolio is super duper important to me. I’m an AMEX employee and card holder but I recall when I chose to get this Discover card it was because you were the first plastic I knew of that would actually give a cardholder access to their Fico score for free! Since then every one has jumped on, but you keep reinventing the game! You’re ahead by far, and while others are still showing a bare Fico score, you’re giving details that are so relevant and necessary for a customer like myself. You guys are doing great and I’m a fan! #DiscoverIt
You Cant Pay Off One Card Using Another Card From The Same Bank
Banks make money when you pay interest and other fees and generally wont allow you to pay off one card using another card from the same bank. If youre interested in a balance transfer offer, your best bet is to shift the balance from one bank-issued card to one with a 0% APR offer from a different issuing bank.
You can get around this restriction by using the balance transfer offer as a deposit to your checking account, then using that money to pay your credit card bill.
Don’t Miss: Who Finances Best Buy Credit Card
Capital One Vs Discover Balance Transfer Credit Cards
Card | |
---|---|
0% intro on balance transfers for 15 months | 17.99% – 27.99% |
0% intro on balance transfers for 15 months | 17.99% – 27.99% |
0% intro on balance transfers for 15 months | 17.99% – 27.99% |
0% Intro APR for 18 months | 14.99% – 25.99% Variable APR |
0% Intro APR for 15 months | 14.99% – 25.99% Variable APR |
0% Intro APR for 15 months | 14.99% – 25.99% Variable APR |
0% Intro APR for 15 months on balance transfers | 14.99% – 25.99% Variable APR |
Rule #: Understand How Interest Is Calculated
Contrary to popular belief, interest isn’t calculated based on the remaining balance after making a minimum payment. In reality, issuers calculate interest based on your average daily balance, calculated by taking your card’s APR and dividing this number by 365.
For example, assume you have a statement balance of $1,000 and make a payment of $800 on the due date. You’ll be charged interest on the remaining balance of $200 and lose your grace period. In the new billing cycle, any transactions will begin accruing interest immediately. The grace period where no interest is charged only applies if you pay your balance in full by the payment date.
Also Check: Can You Get Cash Off Prepaid Visa
Making A Payment By Mail
Accept The Discover Credit Card
Discover is one of the top four credit cards in North America, along with Visa, MasterCard and American Express. Accepting Discover can help you attract customers who prefer to use this card. However, there are some small business owners who dont accept it, so accepting it may give you an advantage over those who dont.
While the card is issued primarily in the United States, its acceptance is now available on all First Data merchant accounts.
Above all, by accepting it, your business can tap into:
- Billions in spending power In other words, card members spend billions of dollars monthly with their cards
- Bigger purchases For instance, every month, members spend on average over 35% more on their cards than Visa and MasterCard cardholders
It may come as no surprise that the reason many merchants opt-out of accepting Discover credit cards is about the bottom line.
This card charges a bit more to business owners to accept their cards.
The figure is around 3 percent per sale. MasterCard and Visa only charge around 2 percent of a transaction total.
Therefore, that difference keeps many small business owners away from accepting these cards.
Don’t Miss: How To Consolidate Your Credit Card Debt
Short Answer: No You Cant Pay One Card With Another
While its not what anyone wants to hear, the fact of the matter is that most issuers simply dont allow you to plug in the number from Credit Card B to pay the bill for Credit Card A. There are two main reasons behind this restriction, both more or less what youd expect .
The first reason is based on the same gripe just about any company has with credit cards: the fees. On an average credit card transaction, credit card processing fees are about 2% of the transaction total. For a $1,000 payment, the merchant would need to pay a whopping $20 to have the transaction processed. A checking account transfer, on the other hand, can usually be completed for less than $1. The table below illustrates the problem with credit card processing fees.
The second reason for the restriction is exactly the reason many people want to use one credit card to pay another credit card bill: rewards. If consumers were allowed to make a large purchase on one credit card, rack up rewards, then earn more rewards on a separate card from paying the bill for the first one well, the credit card issuers would quickly start hemorrhaging money through their rewards programs.
Sign Up For Email Reminders And Pay Bills Online

Many companies send email reminders about bill payment due dates, which again, is a great way to stay on track and make sure you pay bills on time. Typically, all you need to do is log in to your account and opt in to receive those reminders. One less thing to think about! Once youre logged in, explore how to pay bills online, so youll always have a way to make timely bill payments without waiting for checks to arrive.
You May Like: How To Apply For Usa Study Visa
Pay Off Your Credit Card With A Loan
Depending on your credit history and credit score, you might consider paying off credit card debt with a personal loan. If youre a homeowner, you might also qualify for a home equity loan to pay off your credit card. Both are types of installment loans. This means youll receive a lump sum, and will need to pay back your loan in monthly installments during the repayment period.
If the interest rate on a loan is lower than your high-interest credit card debt, it can save you money in interest. Make sure to calculate any fees and interest from the new loan, and see how it stacks up against what youre paying on your credit card. Besides looking at the interest rate, determine how much in interest youll be paying on the life of the loan. While a longer repayment period usually means smaller monthly payments, lengthening the loans life can also equate to paying more in interest. But make sure you do not accumulate more credit card debt if you choose to pay off your credit card with a personal or home equity loan.
Cash Or Credit Card Use
Understanding the advantages of credit cards and cash can strengthen your financial health and weighing the cons can help you decide which is best to use. The ideal payment method ultimately depends on your individual needs and personal preferences.
Legal Disclaimer: This site is for educational purposes and is not a substitute for professional advice. The material on this site is not intended to provide legal, investment, or financial advice and does not indicate the availability of any Discover product or service. It does not guarantee that Discover offers or endorses a product or service. For specific advice about your unique circumstances, you may wish to consult a qualified professional.
Amazon is not a sponsor of this promotion. Amazon, the Amazon.com logo and the smile logo are trademarks of Amazon or its affiliates.
No Annual Fees January 2022: As of *September 2022.
You are leaving Discover.com
You May Like: How Does My Credit Card Number Get Stolen
Change Your Saving Habits
Avoiding spending is a good start. Proactive saving is a valuable next step.
- Build an emergency fund of three to six months of living expenses. That way, if an emergency occurs, you will not have to add to your credit burden to get through a difficult time.
- When you get a windfall from a tax refund, work bonus, monetary gift or other one-time payment, save it instead of splurging.
- Avoid false savings. Applying for a new credit card to get a one-time 10% savings can be very expensive in the long run if you carry a balance with a higher interest rate. Even the inquiry for the application can impact your credit score and lead to higher interest rates in the future.
Discover Card Debt Settlement Programs
While Discover Card has a reputation of being difficult to get credit card assistance from, they do offer some hardship type services and also debt settlement programs to certain customers. Note that if you dont pay them on time or proactively notify them of your financial challenges, then Discover will aggressively pursue unpaid bills. The company will often send the balances to collection agencies, in particular Zwicker and Associates PC.
That being said, find below some examples below of how people are receiving help from the Discover Card debt settlement programs. While they will strictly enforce the terms of your credit card agreement, you can usually negotiate with them. In addition some other ways to get assistance from Discover can include a lower interest rate, or debt management plans. Learn more on these .
Recommended Reading: Is Deserve Credit Card Good
How To Use A Credit Card To Build Credit
As the name suggests, credit cards are one of the foremost tools for building a credit score and can make a great foundation for your credit history. The best way to build your score using credit cards is to follow the recommendations listed above: Pay on time and in full, and keep a low balance. Below, youll learn how credit scores are calculated and exactly how credit cards affect them.
How To Make Your Discover Credit Card Payment In 2022
Learn how to make your monthly Discover credit card payment and get tips for managing your account.
If youre like most people, you probably have a credit card or two that you use regularly. And if youre like most people, you probably have a Discover credit card. Discover credit card is a great credit card to have because it offers cash back rewards and a 0% APR for the first 14 months.
But to take advantage of these perks, you need to make sure you pay your bill on time each month. So how do you do that? Read on to find out.
Don’t Miss: What Can I Buy With My Care Credit Card
Example Of A Discover Card
Lets say that Mia is considering applying for a new credit card. When researching her options, she notices significant variation in the terms and features offered by the various cards. For instance, plain vanilla cards offer low fees in exchange for fewif anyrewards programs, while other cards, such as the Discover it Cash Back offered by Discover Financial, offer more generous rewards programs and cash-back benefits.
Although these differences are sometimes explained simply by the different annual percentage rates and account fees associated with the cards, Mia learned that these variations are also caused by the distinct business models employed by the major credit card brands.
While some companies, such as Visa, generate money primarily from transaction volumes, other companiessuch as Discover Financial and American Expressalso lend money directly to their cardholders. For this reason, the companies that issue cards directly to their customers have an added motivation to offer rewards programs and other features that incentivize their customers to borrow more heavily on their cards.
The Top Balance Transfer Cards

If you think a balance transfer card is right for you, Forbes Advisor put together a list of the best balance transfer cards to suit a variety of needs.
Here are some suggestions to help you get started:
- U.S. Bank Visa® Platinum Card* which carries an annual fee of $0 and comes with a 0% intro APR on purchases and balance transfers for 18 billing cycles, followed by a variable APR of 17.49% -27.49%. A balance transfer fee of either 3% or $5 applies, whichever is greater.
- Citi® Double Cash Card which carries an annual fee of $0 and comes with a 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 16.99% – 26.99%, based on creditworthiness. There is also an intro balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater, completed within the first 4 months of account opening. After that, the fee will be 5% of each transfer .
- Citi® Diamond Preferred® Card which carries an annual fee of $0 and comes with a 0% intro APR for 21 months on eligible balance transfers from date of first transfer and 0% intro APR for 12 months on purchases from date of account opening. After that, the variable APR will be 16.74% – 26.74%. Balance transfers must be completed within 4 months of account opening. A balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater, applies.
Also Check: Can You Purchase Bitcoin With Credit Card