Does having autopay help your credit rating?

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I thought I read somewhere that if you have autopay on your credit accounts (where the money is deducted from your account each month without you actually having to do any of the electronic/manual work) or even some of your utilities and loan accounts, that it helps your credit rating. Something along the lines that it shows you have a stable income or something like that. Is this true to any extent?

Does having autopay help your credit rating?

Has no impact on your credit score -- except, you are less likely to make late payments.

There are lots of drawbacks to allowing everyone to just take what they want out of your bank account every month. Sometimes they double dip or take too much and you end up with overdraft problems.

And of course, folks get lazy and don't bother to check monthly statements. Thereby missing those fraudulent charges.

Does having autopay help your credit rating?

I use autopay on everything. I never have a late payment. I was missing a few now and then from forgetfulness.

It also saves me money and hassle. No stamps and no checks. I don't even carry my checkbook.

I am very happy with autopay. It's bound to make me look good having my payments promptly paid automatically all the time.

I also deal as much as I can with my credit union. They make my financial life very easy and pleasant.

Does having autopay help your credit rating?

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Does having autopay help your credit rating?

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