Credit Card That Can Automatically Have Balance Paid Daily/Weekly?

thisispete on 23/09/2016 - 06:25

Hi All,

Sorry - I couldn't think of a better way to explain what I'm trying to do in the title.

Essentially I'm looking to get a credit card that I can use for Android Pay on my Phone, and have the balance be paid off automatically - preferably in a short time frame. I don't want to have to change Bank Accounts so I can use Android Pay so getting a card that supports it is much easier. But I don't want to have a large balance build up over the month and I know most cards have a mechanism that can have their balance paid off automatically at the end of the month.

Anyone have any suggestions or ideas?

Thanks.

Financial

Comments

  • Euphemistic on 23/09/2016 - 07:08
    +6

    Why wouldn't you want to take advantage of the interest free periods offered?

    Anyway, there is no reason you couldn't set up a direct debit for an amount you think you will need to pay off weekly, then pay off the remaining balance at the end of the month. Eg if you monthly spend is $2k, set it to pay $450 per week, then the balance will auto pay an extra $200 at the end of month on top of the last $450 payment.

    My card is set to autopay the balance monthly, but every now and then when I have a big expense I'll top it up by transferring money during the month. Doesn't cost me anything extra.

  • Gunther on 23/09/2016 - 08:44
    -1

    You just need direct debit arrangement with your bank to pay the full payment on the due date. Most major banks will do this easily. Here is an example from NAB…

    https://www.nab.com.au/vgnmedia/downld/direct_debit_request.…

    Your Monthly Payment Options
    I wish to make monthly payments to my NAB credit card account
    by the following Monthly Payment Option.
    Please tick one option (and fill in payment amount if you select fixed
    payment option).
    —Minimum Payment (as shown on your statement of account.
    This may include past due and overlimit amounts)
    —Fixed Payment of $ (please indicate whole dollar
    amount) (or Minimum Payment whichever is greater. Fixed amount
    must be greater than $10. If the closing balance on a statement of
    account is less than the fixed amount, then the lesser amount will
    be debited)
    —Full Payment (this will be the closing balance as shown on your
    monthly credit card statement of account)

    • tinnybastard on 23/09/2016 - 17:09
      +1

      The OP clearly stated that they don't won't to pay monthly.

  • kipps on 25/09/2016 - 17:06
    +1

    Quoting the OP:
    "Essentially I'm looking to get a credit card that I can use for Android Pay on my Phone, and have the balance be paid off automatically - preferably in a short time frame. I don't want to have to change Bank Accounts so I can use Android Pay so getting a card that supports it is much easier. But I don't want to have a large balance build up over the month and I know most cards have a mechanism that can have their balance paid off automatically at the end of the month."

    Rather than looking for a provider that will do direct debit weekly/etc, why not put the account in credit and keep topping it up regularly so that you never actually go into debit balances?

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