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Mr Credit Card
Mr Credit Card10 Different Ways to Pay First Digital Mastercard
What is more important to know is that First Digital classifies different payment instruments into guaranteed and non-guaranteed funds. This has important implications because depending on whether it is a guaranteed fund or non-guaranteed fund, you may or may not face payhold holds on your credit limit after you pay.
In this tutorial, we will go over all the payment methods and whether it is a guaranteed fund or not. At the end, we will give our recommendation is to which payment method is best for the First Ditigal Mastercard.
Guaranteed vs Non-Guaranteed Funds
Guaranteed Funds - Guaranteed Funds include Bank Money Orders, Cashier's Check, payment via MoneyGram, Western Union and PayNearMe. If you pay using any of these methods, your funds will be available after your payment.
Non-guaranteed Funds - Non-guaranteed funds include personal checks, debit cards, checking or savings account. It does not matter whether you pay via your phone, pay online or from your mobile app. Any of these payment methods are considered non-guaranteed funds and are subject to a payment hold on your credit limit of up to 14 days.
7 Types of Payment Instruments
| Payment Instrument | Guaranteed or Non-Guaranteed Funds |
Payment Hold | Payment Method |
|---|---|---|---|
| Personal Check | Non-Guaranteed Fund | Up to 14 Days | |
| Money Order | Guaranteed Funds | No Hold | |
| Cashier's Check | Guaranteed Funds | No Hold | |
| Debit Card | Non-Guaranteed Fund | Up to 14 Days | Online, App, Phone |
| Checking and Savings Account | Non-Guaranteed Fund | Up to 14 Days | Online, App, Phone |
| PayNearMe | Guaranteed Funds | No Hold | Retail Stores |
| MoneyGram | Guaranteed Funds | No Hold | Retail Stores |
Payment with Personal Checks - Paying by personal checks is considered a non-guaranteed funds and you will be subject to a payment hold on your credit limit. I guess the reason why it is non-guaranteed is because your check might actually bounce. If you are paying by personal check, you will be sending it over snail mail. Be sure you send your checks at least a week early to ensure USPO delivers on time before your due date.
Money Orders and Cashier's Check - Both money orders and cashier's check are considered guaranteed funds as they are issued by a third part and credit will be available immediately after First Digital processes your payment. You will have to mail the money order or cashier's check so make sure you mail at least a week out before the due date.
PayNearMe, Moneygram or Western Union - Total Visa accepts both PayNearMe or MoneyGram. Your payment will be processed within one business day and avoiding the payment hold of 14 days compared to other payment methods. PayNearMe Payments received before 5pm CT will be processed the same day. If it is received later than 5pm CT, it will be processed the next business day. MoneyGram payments received before 2:30pm CT will be processed on the same day. Once again, there are NO payment holds if you pay via PayNearMe or MoneyGram.
Please remember that these third party payment services may charge you a per transaction fee.
Checking or Savings Account - If you are paying your Total Visa bill with your checking or savings account, you can pay via their Mobile App, phone or by their online portal www.myccpay.com using your savings and checking account. You would need your bank account and routing number to pay this way. Payment with your checking or savings account may result in a payment hold of up to 14 days.
Payments Using Debit Card - Unlike many credit cards, First Digital allow you to use debit cards to pay your bills. Debit cards can be paid via mobile app, via phone or on www.myccpay.com and are subject to a payment hold of up to 14 days.
Your Banks' Bill Pay - While you can use your Bank's Bill Pay to pay your First Digital bills, I would just recommend using their mobile app or www.myccpay. If you do choose to use your own bank's Bill Pay, the Payee's name should be First Digital and you would need to fill in your 16 digit First Digital account number. Some banks may also require the remittance address, which is PO Box 5220, Sioux Falls, SD 57117-5220. Your bank's Bill Pay is also not considered a guaranteed fund and may be subject to up to a 14 day payment hold.
4 Different Methods to Pay
| Method | Type of Payment |
|---|---|
| Personal Checks, Money Order, Cashier's Check | |
| Mobile App | Checking and Savings Account, Debit Card |
| www.myccpay.com | Checking and Savings Account, Debit Card |
| Phone | Automated or Representative ($10) |
| Retail Stores | PayNearMe, Moneygram |
Payment via Mail - You can pay via personal check, cashiers check or money order via mail. Using your personal check to pay is considered a non-guaranteed payment and is subject to a 14 day hold. Money Orders and Cashiers Check are considered guaranteed funds and there will be no payment holds. If you like to pay via mail, using a money order or cashiers check would be better. Be sure to mail your payments with enough time before the due date so you can avoid any late payment fees.
Pay via www.MyCCPay.com - www.myccpay.com is the website where you can manage your Total Visa credit card. You can use our checking or savings account (and routing number), debit card to pay your bills via www.myccpay.com and this is all done via ACH. Payments made through www.myccpay.com may be subject to a 14 day hold before credit is available in your account since checking, savings account and debit card are considered non-guaranteed funds. Aside from making payments, you can also check your statements and latest transactions on www.myccpay.com.
Autopay - You can set up autopay on www.myccpay.com. Autopay is the best payment method as you will always pay on time. However, setting up autopay requires your checking or savings account and since they are not guaranteed funds, even autopay is subject to a payment hold of up to 14 days.
Payment Using Phone - There are two ways of paying your bills over the phone. One is using the automated system and the other involves speaking to a representative. Speaking to a representative will cost you $10 per call per payment. You can use your checking, savings account or debit card when you pay via phone. As these methods are not guaranteed funds, you will be subject to a payment hold of up to 14 days.
Pay via Mobile App - If you choose to pay your bills via your mobile app, you have to pay by your savings account, checking account or debit card. These payments are considered non-guaranteed funds and are also subject to a payment hold of up to 14 days.
Retail Stores That Accept PayNearMe, MoneyGram and Western - If you pay by either PayNearMe, MoneyGram or Western Union, you can do so at retail stores that have their services.
Which Method to Pay Your First Digital Credit Card?
If You want to have No Payment Hold - For those of you who place great importance in having your credit available immediately after paying your monthly credit card bills, then you need to pay using a money order or cashier's check through snail mail. Alternatively, you can pay via PayNearMe, MoneyGram or Western Union. Paying via Money Order or Cashier's check is free though you need postage stamps and have to send your mail at least a week early to ensure that it arriveds on time before your due date.
First Digital Has Autopay But You May Experience Payment Hold - If you want to have the piece of mind of not ever missing a payment and always paying on time, then setting up autopay in www.myccpay.com is the way to go. You will however, experience a payment hold on your credit limit for up to 14 days (though most will just have a couple of days hold).
You Pay by Debit Card - There are some of you who only pay by debit card. First Digital allows you to pay with a debit card through the mobile app, online via www.myccpay.com or by phone. But you may face a payment hold of up to 14 days.
Paying via Mobile App and www.myccpay.com is fine - If you are the type that does not like to set up autopay but like to pay online or through the mobile app, then you can do so, you can do that conveniently. You will be using your checking or savings account or debit card if you use www.mycpay.com or the mobile app. Bear in mind that you will face a payment hold since checking and savings account and debit cards are non-guaranteed funds, you may face a payment hold on your credit line of up to 14 days.
Pay via Your Banks Bill Pay - You can always pay your bills via your bank's bill pay though very few people do so if autopay is available or if you can pay online or via mobile app through your credit card. Some banks charge a fee when using their own autopay and you should avoid doing so. It is an option to pay but I think this will not be used often.
Try to Avoid Paying via Phone - When you pay via phone, you can either do so with the automated answering call or with an actual representative. If you speak to a rep, it will cost you $10. I suggest you avoid paying via phone if possible.
To Sum Up - I always recommend that you pay ALL your bills with autopay so you will never have a late payment. Having said that, if want to have your credit lines immediately available after you pay your bills, then you have to pay either by money order, cashier's check (through snail mail) or with PayNearMe, MoneyGram or Western Union through retail stores that have them.