Annual Dues Timing Strategy

[Phatscott25]

2024 is the first year we have set up to do monthly, scheduled for the 15th of each month. If we opted to pay using a gift card each month, what is the latest you can apply a gift card payment so that you also don't have the dues drafted from your bank account? Knowing me I would do it as early as possible, but I was just curious if you had an answer for that question.

I've done it successfully as late as the 14th a couple of times. But as @Sandisw says, I typically try to pay by the 10th for piece of mind.

 

[kes601]

Just do it before they can withdraw. When I do this, I do it on the 10th to be sure

One last question on this. Should I wait until January to pay with gift card for the month or can I go ahead and do it now?

 

[Phatscott25]

One last question on this. Should I wait until January to pay with gift card for the month or can I go ahead and do it now?

That's completely up to you. Now that the bills are posted, any payments you make by gift card will reduce your upcoming withdrawal.

 

[kes601]

That's completely up to you. Now that the bills are posted, any payments you make by gift card will reduce your upcoming withdrawal.

Thanks. I just wanted to make sure to not pay "too early".

 

[Phatscott25]

You're welcome!

 

[DebbieB]

One last question on this. Should I wait until January to pay with gift card for the month or can I go ahead and do it now?

I always apply as soon as I buy them. I worry about hacking and finding out the money is gone off the card.

 

[Sandisw]

One last question on this. Should I wait until January to pay with gift card for the month or can I go ahead and do it now?

I added some yesterday. My January payments will not happen for the contracts I added payment too!

 

[kes601]

I added some yesterday. My January payments will not happen for the contracts I added payment too!

Thanks. I applied what I bought for our 3 contracts. I now have it in my calendar to do it on the 18th of each month (for the following month).

 

[Starport Seven-Five]

I always apply as soon as I buy them. I worry about hacking and finding out the money is gone off the card.

I worry about this and losing them. So easy to misplace one of those things.

We picked up a gift card last week on sale through Meijer and now our next dues payment is July 15th.

 

[CarolynFH]

Thanks. I just wanted to make sure to not pay "too early".

I don’t think there’s a “too early” time! Like @DebbieB I apply them ASAP so I don’t have to worry about being hacked. Or forgetting I have them. It was nice seeing that our next payment would be taken out in October, until DH bought another from Costco so now it says Paid in Full!

 

[mikeuno]

Thank you for the information and tips regarding dues payment by gift card.
Heading to our local Costco tomorrow!

 

[CarolynFH]

Thank you for the information and tips regarding dues payment by gift card.
Heading to our local Costco tomorrow!

Good luck - we bought ours from Costco online, and I’m not sure they have them in the stores.

 

[tom1944]

I used gift cards to pay about half of my dues last week. Do I still need to pay the balance by January 15th, or would my payments automatically push my next payment's due date to February 15?

 

[kes601]

I used gift cards to pay about half of my dues last week. Do I still need to pay the balance by January 15th, or would my payments automatically push my next payment's due date to February 15?

If you are set for auto payment it will tell you when your next payment is set to be withdrawn. That’s the date you need to pay next.

 

[tom1944]

If you are set for auto payment it will tell you when your next payment is set to be withdrawn. That’s the date you need to pay next.

Okay so I should set up auto payment

 

[kes601]

Okay so I should set up auto paymentI

If you don’t then the remaining payment is due Jan 15, considered late Feb 15. Auto payment has to be setup from a bank account. You’ll be able to make payments ahead of time via gift card if you so which.

 

[CarolynFH]

Okay so I should set up auto payment

If you didn’t already have it set up, the system might divide the remaining balance by 12 and make your next payment due on January 15. As above, you can pay via CC or GC before each payment is due, or you can pay off larger amounts each time.

Our monthly payment was calculated based on how much we had paid by the statement date and had first payment set for January 15. We paid some more with GCs, and it said our next autopay would be August 15. Then we paid off the balance, and now it says our next autopay will be January 15, 2025!