New to credit cards here. How do I pay my bills each month, and is there any way to set up an automatic payment such that I don’t miss any single bill payment? - Seedly
 

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Asked by Anonymous

Asked on 05 Aug 2019

New to credit cards here. How do I pay my bills each month, and is there any way to set up an automatic payment such that I don’t miss any single bill payment?

Been using debit cards all along so I'm super new to the use of credit cards. I'm currently using DBS Altitude.

  1. Would you be able to see every line of your expenses on ibanking (immediately / 1-2 days after you incurred it), just like with debit cards?
  1. How do you pay the bill and is there any automatic payment you can set up?

Thanks so much!

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Gabriel Tham
Gabriel Tham, Tag Team Member at Kenichi Tag Team
Level 9. God of Wisdom
Updated on 07 Aug 2019

You can setup an automatic giro payment for credit card bills. For example, this is the steps for DBS/POSB

https://www.dbs.com.sg/personal/support/card-payment-giro-application.html

For manual payment you can pay by ibanking which is the most convenient and fastest. The other way is by cheque payment, where you send it together with the paper statement you receive.

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Question Poster

07 Aug 2019

Thanks! Have just set up an automatic giro arrangement for my credit card. Silly question - but are there any extra risks to be aware of, by setting up a giro payment for credit card bills? E.g. If there are fradulent transactions that are only discovered after the giro is paid, would I be able to get the money back?
Kenneth Chan
Kenneth Chan
Level 5. Genius
Updated on 07 Aug 2019
  1. No, credit cards (or some debit card for that matter) generally requires a few days to post the transaction and the amount do not get deducted from your account immediately. It is prudent to track your expenses with an app (e.g. seedly) to make sure you do not get carried away with spending.

  2. Most credit card have an option to GIRO your bill automatically. Ensure that you have sufficent funds to avoid late payment fee or the insane interest rates they will charge you in an event of a failed deduction. It is good practice to inspect your bill to ensure there are no fraudent transactions as well.

  3. DBS altitude card has plenty of terms and conditions that exclude the earning of miles so if you are intending to "game the system" to earn miles, please read the terms and conditions carefully first.

  4. If the automatic payment is not available from DBS, you can generally request from the service company for a credit card payment form to complete and mail back to them. (e.g. M1)

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Question Poster

07 Aug 2019

Sure, but understand that Seedly doesn't have DBS as a bank for syncing transactions. What alternative do you use for your DBS credit cards?
Kenneth Chan
Kenneth Chan

07 Aug 2019

They used to support but DBS have had some policy changes that removed that feature I think. Also, I think it is better to input your transactions manually rather than to sync it - it builds discipline in your spending. :)
Siow Nan
Siow Nan
Level 6. Master
Answered on 06 Aug 2019

Yes, online giro payments with the steps given by Gabriel is the most convenient and easy to set up.

And yes, you should be able to track your credit card transactions, under the unbilled tab if it is not already shown in the billed tab.

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