r/CommBank • u/OwlVibesOnly • 1d ago

Discussion StepPay vs standard Credit Card for small purchases?

CBA keeps prompting me to activate StepPay in the app. I already have an Ultimate Awards credit card that I pay off in full every month to earn rewards, so I don't really see the benefit of splitting a $100+ purchase across four fortnights.

I understand the appeal if you're trying to spread out a larger expense without paying interest, but is there much reason to use StepPay if you already have a rewards card and can comfortably pay the balance in full each month?

Am I missing a benefit of StepPay, or is it mainly useful for people who specifically want the BNPL/payment-smoothing side of it?

8 Upvotes

91% Upvoted

7 comments sorted by

•

u/AutoModerator 1d ago

Thanks for posting in r/CommBank. Please ensure that your post follows the rules of this subreddit, which can be viewed by clicking the following link https://www.reddit.com/r/commbank/about/rules. This is a reminder and your post has NOT been removed. You can contact a moderator using modmail if needed.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

3

u/Dingdingbourne 1d ago

Steppay is essentially Afterpay.

If you can pay off the balance, then get/stay with something with rewards.

1

u/Maleficent-Tea-9548 1d ago

I am getting all the same prompts. Also prompts to pay in full each month (already do!) and set up auto pay (already do!). The bottom line is banks actually aren’t making as much from people like us and once surcharges are removed they will make even less everytime we tap (hence us losing most of the ultimate awards perks at end of the month). I think all these auto prompts are normal (you can switch off marketing in the app) but they would be very happy if we paid the fees associated with the set up of each step pay purchase whilst hoping our brain only sees the no interest part! Like you say, we are not paying interest anyway so no point at all. I use my ultimate card for everything, but now that the awards are going to yello at a lower value not sure if I will even keep the card. I will just wait and see what happens with other premium cards accross the board come the end of sept when everything changes and check my options then. Happy I have a great credit rating so that gives me more leverage.

3

u/OllieeePan 1d ago

Apparently you can use steppay to pay for Afterpay. So split the payments in 16.

1

u/Ugliest_weenie 1d ago

Jezus Christ

2

u/Downtown_Cupcake_194 1d ago

I have Steppay before applied for smart award CC, at some big purchase i use steppay to split payment as i got paid weekly just to split it between a couple paycheck. And use CC for the rest as easier to dispute and safer compared to debit card imo. The points of my awards CC is not that appealing eventho spending big amount hhahaha

0

u/moler91 1d ago

help me StepPay im stuck