mbna billpay questions

g10ny said: 1. No lo so.
2. No, you can choose to upgrade, but you have to pay attention to some conditions.
3. N/A
4. Interesting question. I have received a completely unreadable change in terms notification - effective June something - , where I saw something related to quasi-cash transactions. Some changes are nigh, but it's not completely clear yet what and how exactly is about to change.

the answers might seem confusing since i added question 2 to my original post and edited the other questions. sorry.

2. No. For large payment, they (MBNA/Checkfree) may select to mail out the check for security reasons (counter-intuitive I guess). That happened to me with my $34,000 payment to Chase. But there is no delay with respect to specified date of payment.

Does the payment with MBNA credit card go in as a purchase transaction or a cash advance/balance xfer transaction?

purchase, just like any other cc trans. but dont get reward points...

Alcibiades said: opmnxtc said: 2. are all payments processed electronically or are there cases when checks are mailed?Almost always electronically, but just in case dont use regular savings accounts as a payment source or you may incur multiple bounced check/returned payment fees; use an MMA or checking account.Kind of defeats the purpose, doesn't it? I use the credit card as the payment source both for float and to schedule and consolidate payments so I can make a single payment from checking.

mhesidence said: Anyone know if you can use a Fidelity account as a funding source...like a checking account?

Fidelity accounts allow check writing ($500 minimum) so I would assume yes, but I don't want MBNA freezing my account again or taking a look at it and deciding I'm not profitable.

If you have the routing # you can, I do with this with Scottrade.

alfonzo said: You guys have success using MBNA BillPay to float a CC payment for an extra month and to use it to pay all your cards and then just transfer one payment to MBNA? This seems like a great idea to earn interest on money owed for another month. No one has had a payment show up as a balance/cash transfer?

Don't "overuse" (I am avoiding the word 'abuse') it, or else one may get a red flag (i.e., account closure, etc.) from MBNA.

Unless of course they end the billpay program - in which case moderation will have been a terrible strategy.

tazmania99 said: Unfortunately, at this moment we still do not know how MBNA defines "overuse" or "abuse". I'd say to not billpay more than 50% of your credit line. If you pay off your balance (most of us do! ), do not schedule to pay on the very last day on due date. Try pay 10% of whatever amount you billpay for the month on the earlier date, and the remaining balance on the due date. Also, some members recommend to make a small purchase each month with the MBNA account you billpay often.

76hhma said: "overuse" (I am avoiding the word 'abuse') it, or else one may get a red flag (i.e., account closure, etc.) from MBNA.Rubbish. The "better not abuse your MBNA privileges" threads have one or two real examples and a bunch of hand-wringers taking all kinds of unnecessary actions to try fly under MBNA's radar. Waste of time IMO.

Just got the fidelity 1.5% rewards card with out even realizing it was MBNA. Now i'm looking into this bill pay feature.

Just to be sure, you must chose a payee from the list correct? No entering payee and address like most other bill pays?

THis is probably a dumb question, or one answered somewhere else (which I haven't found yet) but why is MBNA billpay so good? Seems like all the credit cards have billpay, where you can electronically schedule a payment to another card or another bill. Is this one good because you get rewards? or because can you set payments up way in advance, like a year out for every month? I'm just guessing I havent found a thread about comparing billpays.

cameron2003 said: THis is probably a dumb question, or one answered somewhere else (which I haven't found yet) but why is MBNA billpay so good? Seems like all the credit cards have billpay, where you can electronically schedule a payment to another card or another bill. Is this one good because you get rewards? or because can you set payments up way in advance, like a year out for every month? I'm just guessing I havent found a thread about comparing billpays.

No, you don't get rewards, but it helps you delay the actual payment from your checking. It's (almost) an extra billing cycle.

I've found all my payees besides Capital One and RBS avaiable. Has anyone found a way to pay these through MBNA billpay?

Question, does using MBNA billpay to pay other credit cards or utility bills earn any rewards points at all?

If not, then what's the point of using MBNA billpay other than straddle the payments until the next month?

NoDiscount said: Question, does using MBNA billpay to pay other credit cards or utility bills earn any rewards points at all?

If not, then what's the point of using MBNA billpay other than straddle the payments until the next month?You don't just delay payments for delay's sake. You actually earn 25-55 days (1 month plus the grace period) of interest by delaying withdrawals from an interest-bearing account. Interests do add up, you know.

Also, if you pull your credit report daily and get familiar enough with which credit card reports to which CRA at which day of month, you can actually use MBNA billpay to hide a lot of your debt from the credit report. Something to think about.

penumbra222 said: Here is a thread entitled "MBNA Card (w/o BillPay)"

http://www.fatwallet.com/forums/messageview.php?catid=52&threadid=553883&highlight_key=y&keyword1=mbna

Is there a thread for MBNA accounts *with* BillPay as referred to in the first post? I've searched pretty thoroughly and did not find one?

A bit related link.

Also, using the MBNA bill pay can serve to "compact" your bill payment transactions, let's say if you're trying to reduce the transaction per month in a limited savings account.

Question on billpay - has anyone used it to pay a Penfed loan? I recently acquired an auto loan thru Penfed, and it shows up as a creditor on Billpay's list...I'm going to attempt this this month, just wondering beforehand if anyone has done this w/success.
Thanks!

Pay my penfed mortgage with billpay every month. No problem. I don't think we need a 3 posts though on every possible debt we pay with billpay?!?!

boulderado said: Can I schedule automatic FULL payments of other credit cards using MBNA billpay ? The reason I am asking is because checkfree engine, by default, allows only automatic payments of MINIMUM amount, not the FULL amount.

I've had to manually go in each month and update the payment amounts (for either minimum or full payment). Either it's a limitation of MBNA's system, or I'm not very good at the Internet.