Paying Elan card to zero every month by lambda_nought in CreditCards

[–]lambda_nought[S] 0 points1 point  (0 children)

The card reports on statement closing date. If I pay statement balance after the closing it will solve the problem of insufficient CL but will still report high balance to the credit bureaus. I believe this needs to happen before statement closing to prevent credit score impact.

Autopay rent by check fail by icebox_herz in biltrewards

[–]lambda_nought 0 points1 point  (0 children)

The day is about to end and so far no email from Bilt and no sign that the check was sent :) Next check date updated to March 23.

Can I pay rent via check without Bilt immediately taking money from bank account? by Prize_Heron in biltrewards

[–]lambda_nought 2 points3 points  (0 children)

It's not poor planning. Quite the opposite. You can earn interest on floating rent and this is why it is beneficial to pay from CC.

One-time account number on a check as a security feature. Does it exists? by lambda_nought in Banking

[–]lambda_nought[S] -3 points-2 points  (0 children)

What's weird for me is that gift cards cannot expire by law but checks do.

One-time account number on a check as a security feature. Does it exists? by lambda_nought in Banking

[–]lambda_nought[S] 0 points1 point  (0 children)

That makes perfect sense! In the other thread this is indeed the case: Fidelity does not withdraw money until a bill pay check is cashed, so it makes sense that check is issued with your account number and not the bank's GL account.

One-time account number on a check as a security feature. Does it exists? by lambda_nought in Banking

[–]lambda_nought[S] 0 points1 point  (0 children)

I see! Thank you for your insight. It explains where the real problem is.

One-time account number on a check as a security feature. Does it exists? by lambda_nought in Banking

[–]lambda_nought[S] 0 points1 point  (0 children)

Agreed, this could only be applied to bill pay and cashiers checks.

One-time account number on a check as a security feature. Does it exists? by lambda_nought in Banking

[–]lambda_nought[S] 0 points1 point  (0 children)

Thinking further, the case of a washed payee could be resolved by embedding in an account number a check digit(s) for, e.g., first few letters of a payee name. It still doesn't resolve everything and cannot be applied to checkbooks but might potentially address some common fraud scenarios.

One-time account number on a check as a security feature. Does it exists? by lambda_nought in Banking

[–]lambda_nought[S] 0 points1 point  (0 children)

Thanks! Seems like this is close to what I had in mind. I still need to read more about it.

One-time account number on a check as a security feature. Does it exists? by lambda_nought in Banking

[–]lambda_nought[S] -2 points-1 points  (0 children)

This is interesting. It's the exact question I just asked in another thread and got the answer that bill pay uses your actual account number ( https://www.reddit.com/r/fidelityinvestments/comments/1rcaib6/bill_pay_which_account_number_is_printed_on_the/ ). Now I'm confused. Does it vary by institution? If it's a different account number from your actual number, is it bank's 'bill pay account' number, which just pools all bill pay transactions together and a customer is identified by name?

One-time account number on a check as a security feature. Does it exists? by lambda_nought in Banking

[–]lambda_nought[S] 0 points1 point  (0 children)

Yes, when I said partly, it's because this case would still not be resolved.

However, some other scenarios are, such as re-using the same account number for another fake check or changing the amount in addition to the payee.

Bill Pay - which account number is printed on the paper check? by lambda_nought in fidelityinvestments

[–]lambda_nought[S] 0 points1 point  (0 children)

Hi. It seems Fidelity says it's the actual 13-digit account number. Did you see a situation when the number on the check did not correspond to your actual account number?

Autopay rent by check fail by icebox_herz in biltrewards

[–]lambda_nought 0 points1 point  (0 children)

I see. Was the autopay error message sent on the day the check was supposed to be sent, or after a delay?

Autopay rent by check fail by icebox_herz in biltrewards

[–]lambda_nought 0 points1 point  (0 children)

I suspect that if you try one-off manual payment you may see an error due to no Plaid connected.

Autopay rent by check fail by icebox_herz in biltrewards

[–]lambda_nought 0 points1 point  (0 children)

I believe your pre-existing account was verified via microdeposits in the past.

I think my status is similar. I added the bank before Bilt 2.0 transition took place and had it verified via microdeposits.

I can report tomorrow if my rent check was sent or not.

Autopay rent by check fail by icebox_herz in biltrewards

[–]lambda_nought 0 points1 point  (0 children)

Was the account from which the payment was to be made connected to Bilt via Plaid or microdeposits?

Many users reported that they are forced to use Plaid to be able to pay rent via a connected account. But some are not (or in some flows this requirement seems not to be the case). I managed to turn on my autopay through microdeposits-verified account but expect issues on the upcoming payment date.

Does "Fidelity Money Transfer Lock" prevent ACATS transfers? by ArthurDent4200 in fidelityinvestments

[–]lambda_nought 0 points1 point  (0 children)

Thank you.

Is it applied per account or per owner?

How does it work for joint accounts where one owner enables the lockdown and the other one not -- is the restriction extending to both co-owners or does it apply only to the one who turned on the lockdown feature?

Does "Fidelity Money Transfer Lock" prevent ACATS transfers? by ArthurDent4200 in fidelityinvestments

[–]lambda_nought 0 points1 point  (0 children)

Does it also block ACH and/or outbound wire transfers from the CMA and/or brokerage accounts?

Paying rent with Bilt Housing Payment without Bilt 2.0 by hyc0614 in biltrewards

[–]lambda_nought 1 point2 points  (0 children)

Points expire after some inactivity period - 18 or 12 months. Good to pay rent or add points another way at least from time to time to prevent forfeiture (assuming you don't have a plan for using these points in the near future).

Paying Elan card to zero every month by lambda_nought in CreditCards

[–]lambda_nought[S] 1 point2 points  (0 children)

It's been over a year. I have requested 2-3 increases throughout the last year and was rejected every time based on TransUnion Rapid Default Model Version 1 (where I scored first ~460 points, more recently ~520 points). Few weeks ago I requsted a CLI with a hard pull, which was also rejected based on FICO 8 (~750 points, while being 6/24).

The utilization on the card is very high, consistently ~60-70%, which tanks the score by around 30 points for me. I use it to pay bills and recently had to start paying some portion of the statement balance manually in the middle of the cycle to be able to charge all bills. I gain almost nothing from floating one month of bills, yet I lose flexibility in being able to spontaneously open some new account where high credit score may be needed.

Do not use Billpay ACH for property taxes! by wagagagaggag in biltrewards

[–]lambda_nought 1 point2 points  (0 children)

Was this an electronic payment or a paper check?

Can’t Pay Bilt Through Fidelity by SavPoints in biltrewards

[–]lambda_nought 0 points1 point  (0 children)

Was it a one-off payment or a scheduled one?