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Debit Card vs. Credit Card Auto Pay Date


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23 replies to this topic

#1 OFFLINE   shoeheel

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Posted 08 November 2012 - 03:58 PM

I switched from a debit card to a credit card for my auto bill pay a couple of months ago. With debit, it always posted on the 22nd of the month. The first month with the credit card, it posted on the 22nd as well. Now, with the latest bill, it posted on the credit card on the 7th. I called DirecTV billing and they said that credit cards are withdrawn on the bill "release date". For debit cards, they are withdrawn on the bill "due date", which is about 2 weeks later.

Does this sound right? If so, why?

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#2 OFFLINE   longrider

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Posted 08 November 2012 - 04:21 PM

That is how it is done, my guess on the reasoning is to give you a chance to review the bill before it is debited. Charge to a credit card it is not as big a deal if it takes a week to resolve an issue also you can contest charges on a credit card.

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#3 OFFLINE   bnwrx

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Posted 08 November 2012 - 04:43 PM

As a word of caution and your own security, try not to use Debit cards for autopay. Debit cards are usually linked to checking accounts and generally are not covered for fraudulent activity. Credit cards for the most part are covered for fraudulent activity. In other words if your did not authorize a charge more than likely you will not be held liable by the card company. Since the Debit card is linked to a checking account, if a fraud occurs, the money is already withdrawn from the account and extremely difficult to recover.....

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#4 OFFLINE   dpeters11

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Posted 08 November 2012 - 06:37 PM

A lot of banks do offer protections, but it still is more painful since you really are out the money for at least a few weeks. My wife got a call from her bank that there was a suspicious charge on her debit card. It was only one for about $100, but she had to fill out a form and such to get it back. Fortunately, there really was only one charge.

#5 OFFLINE   Shades228

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Posted 08 November 2012 - 06:52 PM

Just a slight correction debit cards draft 15 days after the bill is generated, and the bill due date is 20 days after the bill generates.
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#6 OFFLINE   MadMac

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Posted 08 November 2012 - 08:10 PM

Personal opinion: use American Express where possible as they've been the best at resolving issues. As always, YMMV.

#7 OFFLINE   Inkosaurus

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Posted 08 November 2012 - 08:28 PM

A lot of banks do offer protections, but it still is more painful since you really are out the money for at least a few weeks. My wife got a call from her bank that there was a suspicious charge on her debit card. It was only one for about $100, but she had to fill out a form and such to get it back. Fortunately, there really was only one charge.


Yep. My identity was stolen once I was out about 600$ (through frost bank in texas) before they caught on and notified me.
It took about a little over a month to get it all straightened out.

#8 ONLINE   WestDC

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Posted 08 November 2012 - 08:31 PM

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#9 OFFLINE   shoeheel

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Posted 09 November 2012 - 08:38 AM

Thanks to all for answering my questions and the good advice!

#10 OFFLINE   raott

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Posted 09 November 2012 - 08:47 AM

As a word of caution and your own security, try not to use Debit cards for autopay. Debit cards are usually linked to checking accounts and generally are not covered for fraudulent activity. Credit cards for the most part are covered for fraudulent activity. In other words if your did not authorize a charge more than likely you will not be held liable by the card company. Since the Debit card is linked to a checking account, if a fraud occurs, the money is already withdrawn from the account and extremely difficult to recover.....


This is incorrect.
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#11 OFFLINE   sigma1914

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Posted 09 November 2012 - 08:55 AM

LIFELOCK

No thanks - waste of money.
:lol::lol::lol: LifeLock CEO’s Identity Stolen 13 Times... http://www.wired.com...identity-theft/

In June 2007, Threat Level reported that Davis had been the victim of identity theft after someone used his identity to obtain a $500 loan from a check-cashing company. Davis discovered the crime only after the company called his wife’s cellphone to recover the unpaid debt.

About four months after that story published, Davis’ identity was stolen again by someone in Albany, Georgia, who opened an AT&T/Cingular wireless account using his Social Security number (.pdf), according to a police report obtained by the New Times. The perpetrator racked up $2,390 in charges on the account, which remained unpaid. Davis, whose real name according to police reports is Richard Todd Davis, only learned a year later that his identity had been stolen again after AT&T handed off the debt to a collection agency and a note appeared on his credit report.

Then last year, Davis discovered seven more fraudulent accounts on his credit report that were opened with his personal information and have outstanding debt, according to the police report.

Someone opened a Verizon account in New York, leaving an unpaid bill of at least $186. An account at Centerpoint Energy, a Texas utility, was delinquent $122. Credit One Bank was owed $573, and Swiss Colony, a gift-basket company, was seeking $312.

In addition to these amounts, Davis’s credit report showed five collection agencies were seeking other sums from accounts opened in his name: Bay Area Credit was pursuing $265; Associated Credit Services was seeking two debts in the amount of $207 and $213; Enhanced Recovery Corporation was chasing $250 and $381.


If you stop responding to them or put them on ignore, then eventually they'll go away.

#12 OFFLINE   bnwrx

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Posted 09 November 2012 - 09:31 AM

This is incorrect.


No it is not....

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#13 OFFLINE   dpeters11

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Posted 09 November 2012 - 10:06 AM

No it is not....


The rules are a bit different than credit cards, but there is protection, especially if the physical card isn't stolen.

However you are out the money until the bank gives it back to you, but it's not like you'd never see it reimbursed.

http://www.ftc.gov/b...edit/cre04.shtm

#14 OFFLINE   dpeters11

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Posted 09 November 2012 - 10:10 AM

No thanks - waste of money.
:lol::lol::lol: LifeLock CEO’s Identity Stolen 13 Times...


Looks like he no longer puts his SSN on their web page. Not that there aren't plenty of places to get it.

#15 OFFLINE   ciurca

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Posted 09 November 2012 - 10:12 AM

Just happened to me today. Due to divorce, I switched the auto bill pay to my business debit card. (self employed) but it is a debit card none the less. First month after changing from old family debit card, the payment was drafted 15 days after bill date. This month's bill was drafted today, being yesterday was the bill date. No big deal, but I guess mine was run through the credit network.

Either way, new non-marital credit card coming this week. I will change the billing to that one as soon as activated.

I really think they figure you get grace period with the credit card, so they want their 15 days of time value of money.
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#16 OFFLINE   bnwrx

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Posted 09 November 2012 - 10:26 AM

The rules are a bit different than credit cards, but there is protection, especially if the physical card isn't stolen.

However you are out the money until the bank gives it back to you, but it's not like you'd never see it reimbursed.

http://www.ftc.gov/b...edit/cre04.shtm


That is the point I was trying to make. Your funds are gone until it is settled. Some banks re-act quicker than others for their customers, but if by chance most or all of your balance was affected, then then you'll need to "re-fund" your account(or open a new one). As stated in that article you have to re-act quickly in order to limit your liabilty, many people don't look daily at their balances. My only point was with credit card transactions, you have more time to pursue fraudulent behavior and your money isn't "instantly" withdrawn from you. As with everything, people must set their own tolerance for risk. Was only trying to help......

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...sometimes, there is no answer...
http://woodlandweather.org/


#17 OFFLINE   TMan

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Posted 09 November 2012 - 11:26 AM

I look at it this way. A fraudulent debit card charge affects money in my checking account. A fraudulent credit card charge affects the amount I'm supposed to pay some giant company at the end of the month.

Both can be straightened out, but I'd rather argue over my bill than have to fight to get funds put back into my checking account.

#18 OFFLINE   dpeters11

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Posted 09 November 2012 - 11:33 AM

That is the point I was trying to make. Your funds are gone until it is settled. Some banks re-act quicker than others for their customers, but if by chance most or all of your balance was affected, then then you'll need to "re-fund" your account(or open a new one). As stated in that article you have to re-act quickly in order to limit your liabilty, many people don't look daily at their balances. My only point was with credit card transactions, you have more time to pursue fraudulent behavior and your money isn't "instantly" withdrawn from you. As with everything, people must set their own tolerance for risk. Was only trying to help......


You have to act quickly if the actual card is stolen or lost. A lot of times, the theft doesn't actually involve the card.

The scary one with my wife was that the fraudulent charge was made at a Walgreens in Florida. She had physical possession of her card the whole time. I didn't think you could make a purchase at a POS at Walgreens without the actual card. Which would mean they had a fake card made or something.

#19 OFFLINE   raott

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Posted 09 November 2012 - 12:04 PM

No it is not....


You said debit cards were not generally not covered for fraud. That is incorrect. There are specific rules, but they are covered.
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#20 OFFLINE   Shades228

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Posted 09 November 2012 - 12:54 PM

Just happened to me today. Due to divorce, I switched the auto bill pay to my business debit card. (self employed) but it is a debit card none the less. First month after changing from old family debit card, the payment was drafted 15 days after bill date. This month's bill was drafted today, being yesterday was the bill date. No big deal, but I guess mine was run through the credit network.

Either way, new non-marital credit card coming this week. I will change the billing to that one as soon as activated.

I really think they figure you get grace period with the credit card, so they want their 15 days of time value of money.


The reason for the change is that Debit cards impact people's available money instantly so they give customer's the ability to see their bill and ensure that all charges are correct. If there is something, say an non return fee, that was applied because they didn't send a receiver back it gives them time to get it corrected before it drafts out of their account.
All comments are my own. Unless specifically stated, my views do NOT represent the views of DIRECTV




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