If you want to pay all your credit cards using one single monthly payment, you can set up IncrediPay.
To set up IncrediPay, head over the the home screen and click "Set up" next to "Try IncrediPay". You need to ensure you've connected at least one credit card already. Remember to add any other cards you'd like to manage and pay.
We'll then ask you to confirm some details. This is where we need you to enter key bits of information to make sure we have everything we need so nothing goes wrong.
Card number: You can either type it in manually, import your latest credit card statement (if the card number is there) or you can use our card scanner to read it from your card automatically.
Payment date: This may differ to what we have on file, so we need you to confirm this so we pay your cards on time. If you're unsure, you can import your statement.
Interest rate: We need you to confirm this so our calculations are correct. If you know this already, you can manually enter this, or you can import a statement.
You then need to choose a plan. Here you can pick 1 of 2 options:
Reduce my interest fees
This will pay off your card with highest interest first, otherwise known as Avalanche.
Clear accounts faster
This will prioritise the accounts with the lowest balances while paying the minimum amount for your other credit cards, otherwise known as Snowball.
Review your plan. Once you've entered the amount you want to pay, we will show you how we will allocate the payment for you. If you prefer to tell us what you want to pay to each card, you can adjust this yourself. If you want to pay more than the allocation is showing, you will need to adjust the collection amount. The entire collection must be allocated towards the cards selected.
Based on the collection amount and allocation, you will see a payment summary detailing, how many payments it would take to clear the balance (if you were to not use the credit card anymore, what to total repayment cost would be and the estimated pay off date). These numbers will change if you use your credit cards.
We then ask you to choose your collection date. This means you can pay on a day of your choosing. For many people, it's close to the day they get paid.
Once you're happy with your plan, the final step is select the bank you want to pay from. If you pick a bank from the list shown, we will be able to automate the payment for you each month without you needing to do anything. If you decide to pay manually, we will remind you 3 days prior to your collection date to deposit the monthly amount.
Please note, if you fail to pay your monthly collection amount in, your credit cards will not be paid unless you pay them yourself, manually.
And that's it! that's IncrediPay setup. Each month we will continue to automate your credit card repayments for you in the most cost effective way possible.
If you have any questions regarding IncrediPay, please reach out to us in the app or email us at [email protected]