Use Credit Cards for Automatic Billpay

You’ve probably seen, or are presently enrolled in an automatic billpay program with your cell phone, utility, or another monthly liability.

It’s quite common to set up an automatic payment plan to pay bills on a monthly basis to avoid forgetful mistakes and to simplify your expense management. But are you using a credit card to pay for these items, or simply linking them to a bank account?

If you haven’t already, switch automatic payments to a credit card instead of your checking account. Aside from it being a safer alternative than linking an outside account directly with your checking or savings account, it will also boost your rewards points and help build credit history.

You may have a credit card that you never use that you’ve considered cutting up. Instead, use it to pay a single bill every month using an automatic billpay program. That way that credit card will stay active and build credit history for you with little or no involvement.

If you’ve got a cell phone that you pay every month, use your American Express card to pay it every month. You’ll earn points and build credit history, not to mention save time and avoid checks, postage, and you’ll have the security of a credit card.

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5. Don’t Close Credit Card Accounts While Building Credit