Annual Fees

[nickspace]

Are there any disadvantages in paying for annual fees on a monthly basis instead of paying them all at once?

 

[WilsonFlyer]

Nothing aside from the fact that you have to make sure the draft is covered like any draft. There are no extra charges (interest, etc.).

 

[backyardponder]

It all depends on how you manage your money and your preferences.

Monthly is a debit from your checking account. Paying annually you can put on a credit card and get your credit card rewards.

With extremely low savings interest rates these days, I just put it on my credit card and get my 1 or 2% rewards. I pay off my credit card monthly. If I were paying interest, I wouldn't put it on the credit card.

 

[ssawka]

Only if you don't like auto debits to your bank account.

 

[Muushka]

Only if you don't like auto debits to your bank account.

That would be us. We hate giving anyone access to our accounts. Plus, we earn the 1% by paying it with the Disney cc. I realize that the interest we lose is not made up for with that 1%.

 

[nickspace]

Thanks all!