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Do You Need to Have Your Credit Card With the Same Bank as Your Chequing Account?

Banking Jun 22, 2020

Do You Need to Have Your Credit Card with The Same Bank as Your Chequing Account?


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I often have friends and colleagues ask me this very question when I recommend a different credit card for their needs. Many people often have all their finances, including their chequing accounts, savings accounts, mortgages, and credit cards through the same bank. Although doing this can often make it easier to manage your finances with just one login, you can apply for a credit card from any bank, not just where you normally bank! We recommend comparing your options between all banks to find the best credit card that works for you: whether that's the best cashback credit card or even the best credit card for students.


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If I Have My Credit Card With Another Bank, How Do I Pay My Bill?


Credit Cards different bank how do I pay my bill


This is a common follow-up question I receive after friends and colleagues ask me about credit cards at other banks. Although it is not quite as easy to pay as pressing a "Make a Payment" button like you do when you have a credit card at the same bank as your chequing account, it is still straightforward:

  1. First, navigate to the "Bill Payments" option in your online banking site or app.
  2. Then select "Add a Payee".
  3. Search for the bank you have a credit card with. For example, if you have a credit card with American Express, the payee should be listed as "American Express Cards" or similar.
  4. For the account number, put in your full credit card number of the card that you are paying.
  5. Then make a payment for the bill amount.

And voila! You've paid your credit card from a different bank. After this, every time you make a payment you can use the same payee you've already added. All you need to do is enter the amount and confirm the payment. Depending on what bank your credit card with, there may also be an option to set up pre-authorized payments (to automatically withdraw the bill payment from your bank account) which may be a good idea.

Hopefully this helps anyone looking for a good credit card but hesitant to get credit cards from other banks. This knowledge is especially important when you get a credit card from a bank that doesn't offer chequing accounts (such as Rogers Bank or American Express).

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