Augusta
VIP Contributor
You can benefit from the act of automatic bill payments as it will help to lesser your debts if you are owing, save times of you making trips to pay for a subscription even Incresse your credit score by you making regular and timely payments
But before doing this you need to take into consideration some factors and find out if you can cope with the potential drawbacks:. The following are factors to consider
Overdrafting your bank account
if you are not having regular income or you are jobless at the time you are doing automatic payment of bills. you run the risk of overdrafting your account
Bounced payment
if you have zero balance in the account.Then, the automated payment will bounce and no bill payment will be made which can decrease your credit score.
incurring steep expenses indefinitely.
With automatic bill payment if you forget to cancel subscriptions you would automatically earn steep expenses for a long time.
What's your thoughts on this?
But before doing this you need to take into consideration some factors and find out if you can cope with the potential drawbacks:. The following are factors to consider
Overdrafting your bank account
if you are not having regular income or you are jobless at the time you are doing automatic payment of bills. you run the risk of overdrafting your account
Bounced payment
if you have zero balance in the account.Then, the automated payment will bounce and no bill payment will be made which can decrease your credit score.
incurring steep expenses indefinitely.
With automatic bill payment if you forget to cancel subscriptions you would automatically earn steep expenses for a long time.
What's your thoughts on this?
