Automatic Credit Card Payments Can Come Back to Bite You

PennyGem’s Elizabeth Keatinge tells us what the experts say about setting up automatic credit card payments.

Transcript

00:00setting up automatic credit card payments helps keep everything simple and make sure you don't

00:09miss a payment right probably a good idea for many americans according to a wallet hub survey

00:1318 percent of adults expect to miss at least one credit card due date in 2020 well one expert tells

00:19creditcards.com that there can be a downside setting up your credit cards on autopay cedes

00:24some control to the credit card companies says former banker nick clements you also may be

00:29inclined to not go over your statements if you set it and forget it clements says be sure you still

00:35take responsibility for your account and scour your statements every month even if you have alerts set

00:40up don't be one of the victims of credit card fraud just because you aren't paying attention

00:44according to shiftprocessing.com credit card fraud is ranked the number one type of identity theft

00:49fraud in 2018 24.26 billion dollars was lost due to payment card fraud worldwide

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