Hi everyone,
I understand what auto-debit is for credit cards, but what about auto-sweep? How is it different from auto-debit, and should someone opt for it? Also, I noticed that the application defaults to ‘enable marketing’ as yes.
@Alexander Auto-debit automatically pays your credit card bill from your bank account on the due date, while auto-sweep transfers surplus funds from your savings account to a fixed deposit to earn higher interest. Opt for auto-sweep if you want to maximize interest on your excess savings and for auto-debit to avoid missing credit card payments. Also, make sure to uncheck ‘enable marketing’ in the application if you don’t want to receive promotional messages.