possibly pay my credit card!
February 4, 2008 3:46 AM   Subscribe

Is there a way to direct HR in the USA to send my entire paycheck directly to my credit card account without first needing to send it to my checking account? (hypothetical)

What information would I need from the bank?

Is this possible?
posted by parmanparman to Grab Bag (8 answers total) 1 user marked this as a favorite
A regular old credit card? (ie not a check card?)

If its a regular credit card I would think it is not possible. Credit cards do not have routing numbers as far as I know.

There probably would be a way that it would be technically possible but that would probably involve an extra step for your HR and the chances of them cheerfully doing that would be nil I would guess.
posted by ian1977 at 4:35 AM on February 4, 2008

I doubt it. As ian1977 said, it's the routing numbers on the checking account that makes this possible. Most online banking sites have automated transfer schedules. Time a transfer to coincide with your automated payment (or say, a few hours after) to have it pushed over to your credit card. That way, you never actually see the cash.
posted by purephase at 4:58 AM on February 4, 2008

Get online banking. I think most banks offer it these days. I have a credit union and bank checking account which both give me credit/debit cards drawing from the checking account.
posted by JJ86 at 5:29 AM on February 4, 2008

Your best bet is probably a bank account held with the same institution as the credit card. Like Citi or BoA. Transfer to the bank account, and then transfer to the card. The second transfer is often instant since it's interbank, so you get rid of that delay.
posted by smackfu at 7:33 AM on February 4, 2008

Also, you could run into problems with them identifying the payment for your account. Without the routing numbers that bank accounts (checking and savings) have, it could have problems getting that set up.

However, some banks might allow you to set up automatic payment of the credit card from a checking account.

I think most companies would not want to allow deposting to a credit card, as interest and late fees are the foundation of modern credit card proffit.
posted by slavlin at 8:31 AM on February 4, 2008

Best answer: Yeah, seconding slavlin. You can set up an automatic deduction of the statement balance with most credit cards, and with most (though not American Express), you can even link that to your savings account, instead of your checking account.

Kinda the same thing, but no, not exactly.

Here's why: At some point, it's more than conceivable that your credit card balance will be exceeded by your direct deposit amount. Your direct deposit system isn't able to look at your balance and determine what overflow needs to be pushed elsewhere, so it wouldn't be a good thing, and credit accounts are NOT bank accounts, so you can't store cash there.
posted by disillusioned at 9:57 AM on February 4, 2008

To further slavlin and disillusioned, why not create a second checking account just for this if you're really trying to keep it separate? Most direct deposit situations that I've dealt with will allow you to say a certain dollar amount or a certain percentage goes to one account before it rolls over to the next. Take out how much you want, put that in the credit account, then set up an automatic draft on that account to pay off the card.
posted by joshrholloway at 12:54 PM on February 4, 2008

I didn't read that he was wanting to keep things separate.

While all these answers seem good, they are based upon an assumption that you want to pay off some credit card. It might not be that at all.

I knew a guy that got paid for his work from an international company. Instead of paying him via a check or a wire, they simply funded a credit card for him with his pay. Then, he could go to an ATM and pull it out, or just spend it like cash. It was cool for him because it was all pre-tax dollars, and the credit card was considered an international credit card, so he avoided the transaction fees.

It was a win-win situation.

But, I don't know what the author of the thread wanted to do. But, it could be that he wants to do something similar to above.
posted by wflanagan at 5:26 PM on February 4, 2008

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