Set up automatic payments -> Pre-authorized Credit Card Payment

Set up automatic payments -> Pre-authorized Credit Card Payment

Set up automatic payments -> Pre-authorized Credit Card Payment

SOLVED
RichardChen
I'm a Participant Level 1

Set up automatic payments -> Pre-authorized Credit Card Payment

Hi,

 

I just have a general question. I see there is “Set up automatic payments -> Pre-authorized Credit Card Payment” option after I log into my account (webpage).  Would the payment count as Cash Advance on my credit card or a Purchase?  The difference to me would be, I need to pay credit card interest if it’s Cash Advance. Otherwise, I have a grace period on spending as a Purchase. 

 

Please advise.  Thank you!

 

Richard

 

***Edited to add labels***

Accepted Solution

Re: Set up automatic payments -> Pre-authorized Credit Card Payment

Solved by Senior MVP Senior MVP

Hello RichardChen,

 

  Welcome to the community!

 

  With Pre-authorised credit card payments, they are charged as purchases like any other purchase you make. They are not considered cash advances. Fido will just pay your bill with your credit card on the specified day.

 

Hope this helps Smiley

 

Cheers

View solution in context
4 REPLIES 4
Cawtau
Senior MVP

Hello RichardChen,

 

  Welcome to the community!

 

  With Pre-authorised credit card payments, they are charged as purchases like any other purchase you make. They are not considered cash advances. Fido will just pay your bill with your credit card on the specified day.

 

Hope this helps Smiley

 

Cheers


Thanks for posting @RichardChen, and welcome to the Community! Very_Happy

 

@Cawtau's reply answers your question perfectly Smiley

 

Keep in mind that when you have automated payments, the payment is taken from your card 14 days after the bill cycle date.

 

Feel free to post again if you have other questions! 

 



redleader
I'm a Participant Level 1

Additional related question; is there a charge for this method of payment?

And, I assume that the 14 day payment span insures no late payment potential?

 

There's no charge to set up preauthorized payment by credit card, however a 25$ fee applies if the payment is denied. 

 

And, yes to the second question Smiley @redleader.