[retiredguy123]

Originally Posted by Wilharm

I thought all the JC Penny stores were closed.

Not true. I recently went to the J.C. Penney store at the Paddock Mall in Ocala.

[Andyb]

Originally Posted by villagetinker

Over the last several months several stores we deal with have been using or changed to using Synchrony Bank, which has in turn imposed a $2 per statement fee unless you use paperless banking.
Here is my question: if your account has a zero balance and you have not signed up for the paperless banking do you still get a $2/monthly charge?
My analysis is that I can use my money back credit card instead of the store card and come out ahead on most accounts and most months. Based on this I am planning on dropping most if not all of the store credit cards and just use the money back card.

Thank you for your info and thoughts.

I Canceled all store CC cards that did this. I’m not writing and mailing $2 checks.

[Missdoss]

Originally Posted by LuvtheVillages

I recently received a similar notice for my Bealls store card. They will impose a $3 fee for each statement unless I sign up for paperless billing.

The only reason I have the card is because it is linked to their rewards program. With the statement I sometimes get a credit for my next purchase, the amount based upon how much I have spent recently.

So I signed up for paperless. Not happy about it as it is too easy to miss the email announcement that the statement is ready among the onslaught of emails I receive. However I refuse to set up automatic payments. I want to see and verify the accuracy of the bill before I pay it.

We will see how this goes.

I created an email just for receiving bills so all my statements and invoices go there and I can check it with no spam.

[Rocksnap]

We use a Bilt Mastercard. For those that pay rent, it can be used for that. Basically, you generate points per dollar spent. Some points are doubled, others can be 6x. And then points can be used within Bilt for many things. Or TRANSFERED to other institutions such as Hyatt or Hilton! We use Hyatt, have their CC and generate points with that one too.
So far, we generate enough points annually to use the points at Hyatt for a nice 7 night stay at their 4star resorts. Our last trip was to Scottsdale for a golf excursion.

[harby]

When I opened an account with TMobile and Youtube TV, they discount $5.00 per month if I ask for paperless statements. That s how I do with my several credit cards to avoid unnecessary fees on paper statements.

[villagetinker]

OK great info so far, so let me ask the next question. For those of you that use paperless payments, are all of these like ACH, where it gets paid with NO INTERVENTION by you, or are these a hold for approval before the bank pays. I have been burned by the first and only want the second.

[Deden]

I pay by phone or just go to the store. Not comfortable with paying on line.

[golfing eagles]

Originally Posted by villagetinker

OK great info so far, so let me ask the next question. For those of you that use paperless payments, are all of these like ACH, where it gets paid with NO INTERVENTION by you, or are these a hold for approval before the bank pays. I have been burned by the first and only want the second.

I use Quicken. So each morning I take 30 seconds to do a one-step update of all my accounts. I'll know of any fraudulent charge immediately. Then, when I want to pay a bill, I simply go to my bank's home banking screen and enter the payment, no charge from bank. Easy peasy and pretty safe if you have strong passwords and a decent firewall

[Bill14564]

Originally Posted by villagetinker

OK great info so far, so let me ask the next question. For those of you that use paperless payments, are all of these like ACH, where it gets paid with NO INTERVENTION by you, or are these a hold for approval before the bank pays. I have been burned by the first and only want the second.

Mine are the first type. Six each month. No problems in the many years they have been active.

By the third week of the month I know how much money I will need in my account for these automatic ACH withdrawals. I program some automatic transfers then relax knowing that all my bills have been paid for the next 30 days. One day per month (about 15 mins actually) to avoid any late or missed payments.

[retiredguy123]

Originally Posted by villagetinker

OK great info so far, so let me ask the next question. For those of you that use paperless payments, are all of these like ACH, where it gets paid with NO INTERVENTION by you, or are these a hold for approval before the bank pays. I have been burned by the first and only want the second.

I have electronic billing and banking, but no "auto-pay". I make all payments manually myself using my bank's bill pay system. They are usually handled by the ACH method. I never allow any merchant or bank to automatically remove money from my account.

[Glowing Horizon]

Originally Posted by Pugchief

Not sure why you guys are opposed to paperless billing. The USPS is a dumpster fire. I get 100%* of my bills online and also autopay them electronically. Way less errors and problems than snail mailed.

I also gave up store cards ages ago. Get yourself a good Visa or Mastercard that has a nice cash rebate (Citibank Double Cash MC 2%, Fidelity Rewards Visa 2% if deposited into a Fidelity account, etc) and you can streamline your finances as well.


*except for the few bills that do not have online option, like the guy who cuts my grass

Here’s something to consider. If you get your bank & investment accounts via email, will your spouse or your other beneficiaries know where your funds are, how much is there, who is entitled to the funds & the password to access the account after you die or are incapacitated?

If they don’t have access to your password- or biometric-protected EMAIL, they may not ever receive anything to trigger them to seek possession of it. Mailed paper statements serve as notifications to your heirs.
^^^Voice of experience^^^

[Glowing Horizon]

Originally Posted by larrycrilley@gmail.com

An actuary once told me use my Amex for everything I possibly can. “If you have to pay for something why not get something in return” were her words. She said she had enough points to cover two round-trip first class airfares anywhere on earth. I have been following her advice, and now I am redeeming my points for a fly/drive trip from San Francisco to San Diego and onto the Grand Canyon…all on points I have accumulated. The fights, the hotels, and the car rental inclusive. I even received a few upgrades and perks just for being a member.

The best advice is to use the card then go into your online checking and send them the payment right away. No big surprises at the end of the month and no interest charge.

We even has some left over points and points from other cards that can be used if need be.

California here we come!

Just received an AMEX offer on the mail yesterday. The new AMEX terms & conditions (harshly) addresses your methods for getting points.

[billethkid]

Originally Posted by retiredguy123

I have electronic billing and banking, but no "auto-pay". I make all payments manually myself using my bank's bill pay system. They are usually handled by the ACH method. I never allow any merchant or bank to automatically remove money from my account.

The best method!

[OrangeBlossomBaby]

tinker: my youtube subscription is paid automatically with my credit card. It requires no further authorization from me. However, the subscription is a once-per-month charge. Any other charges for youtube - such as movies, or anything from google play - have to come from me, manually. It's a security setting to prevent kids from ordering random stuff, since kids can get their own limited access if their parents set that up for them. My sister can access my "family library" of movies and books, but she can't order anything. That setting is through youtube TV though, not through my credit card.

[Pugchief]

Originally Posted by villagetinker

OK great info so far, so let me ask the next question. For those of you that use paperless payments, are all of these like ACH, where it gets paid with NO INTERVENTION by you, or are these a hold for approval before the bank pays. I have been burned by the first and only want the second.

All of my bills for both houses are on autopay (no intervention). I have never had a problem. The amount debited is always exactly what I owe.

Now what is a problem is if you don't actually look at the electronic statements. Although rare, I do occasionally find an erroneous charge or fee increase. If you call the vendor immediately to dispute, it is usually not an issue.