A simple way to buy today and pay later. Much later.
This is a feature announcement.
This week we launched a rather cool feature on the AutoFi Bot.
Whether you have one credit card or several, you will find this useful.
When making an expensive purchase, we like having more time to pay for it.
However, it’s hard to remember which of the many cards in the wallet is due when — and can, therefore, provide the longest time to pay.
That’s because cards have different billing cycles and credit periods. There is some math involved here.
So we taught the AutoFi Bot how to do that math.
While the image above shows HDFC card is best to use today, on a different day, the Citi card might be the preferred one.
Because of the complex math of billing cycles and due dates, the cards dance around.
For those with one card (and for those with many)
If you have just one card, the statement date — the date when the card issuer generates the statement — is very important.
If you use your card just before statement date, the purchase will pop-up on the statement immediately.
But if you use the card just after the statement date, that purchase will come to you next month. You get almost a month more to pay.
We taught the AutoFi Bot to anticipate such situations:
This is helpful whether you have one card or many.
That’s not all folks!
Say you take the AutoFi Bot’s advice and decide to wait till the 13th.
But we know you are busy. And are likely to forget.
You may forget the date with the longest due date for payment.
Or you may forget what you were going to buy.
The AutoFi Bot can help. You can set a reminder. And add a note as well.
Because you know you will forget. 😃
If you are already chatting with the AutoFi Bot, this is a new feature in the Ask command.
Try it out by typing /ask » Which Card 💳
For best results, tell the AutoFi Bot about your credit cards. And give accurate dates when adding the card.