The Commonwealth Edison Company is the largest electric utility in Illinois and is a subsidiary of the Chicago-based Exelon Corporation. The Exelon company has over 10 million electricity and natural gas customers. More than 4 million people in northern Illinois get their power from ComEd. Their service area is between Iroquois County and the borders of Wisconsin, Iowa, and Indiana. Hereâs how ComEdâs payment system works, along with everything you need to know about their electric rates. byAmanda SmithPosted December 11, 20228m Read.
As a Comed customer, you have to pay your electricity bill every month. Comed gives you a few different ways to pay your bill, but for many customers, using a credit card is the easiest option. This article will go over the pros and cons of using a credit card to pay your Comed bill, as well as give you some tips on how to use a credit card to pay your bill.
The Benefits of Paying Your Comed Bill with a Credit Card
There are several advantages to paying your Comed electricity bill with a credit card
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Convenience With a credit card you can pay your bill quickly online over the phone, or even set up autopay. This is much easier than mailing a paper check each month.
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Earn rewards: Many credit cards offer rewards like cash back, points, or miles on every purchase. Putting your Comed bill on a rewards credit card is an easy way to earn a little extra each month.
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Build credit: When used responsibly, paying bills like your Comed payment with a credit card and paying it off in full each month demonstrates good credit management. This can help build your credit score over time.
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to keep your cash flow smooth: credit card bills usually have different due dates than your Comed due date. This can help you avoid problems if you don’t have enough cash when the Comed bill is due. It can help you keep track of your money if you pay your credit card bill in full every month.
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Coverage: Credit cards provide an added layer of protection in case there are ever any unauthorized charges on your Comed account. You can dispute erroneous Comed charges more easily with a credit card company.
Are There Fees for Paying with a Credit Card?
In the past, Comed used to charge convenience fees for customers paying by credit or debit card. However, Comed no longer charges any fees for credit/debit card or e-check payments. This makes paying your electric bill by credit card much more advantageous.
Even though Comed doesn’t charge any fees to process payments, your credit card company may see Comed bill payments as a cash advance. Cash advances often come with higher interest rates and fees. To avoid this, call your credit card company ahead of time to make sure that paying your Comed bill will be seen as a purchase and not a cash advance.
Tips for Paying Your Comed Bill with a Credit Card
If you want to start paying your Comed electricity bill with a credit card, keep these tips in mind:
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You can set up autopay through Comed so that your credit card is charged every month. This ensures your bill is always paid on time.
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Use a rewards card to earn cash back, points, or miles on every payment. Over time, this can add up to free money or travel.
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Check your credit limit to ensure you have enough available credit for the Comed payment each month.
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Pay it off in full each month to avoid credit card interest and fees. Set payment reminders if needed.
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Notify your card company it’s a utility payment to avoid cash advance fees.
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Use online account access through Comed to monitor charges and quickly address any billing disputes.
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Update card info with Comed immediately if your credit card number changes to avoid late fees.
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Compare billing cycles and due dates so your Comed bill isn’t due right before your credit card payment.
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Sign up for alerts through Comed and your credit card company so you don’t miss any important notices.
Can I Use a Debit Card or e-Check?
In addition to credit cards, Comed offers a few other convenient payment options:
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Debit cards can be used to pay your Comed bill online or by phone. Like credit cards, Comed no longer charges convenience fees for debit card payments.
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Electronic checks let you use your checking account to securely pay online or by phone. e-Checks through Comed are also free of fees.
Both debit cards and e-checks allow you to pay quickly without writing and mailing a paper check. While they don’t offer all the same benefits as credit cards, they remain easy and affordable ways to pay your Comed electricity bill each month.
Avoid Late Fees and Payments with Autopay
To make paying your Comed bill even simpler, take advantage of autopay options. With Comed autopay, the funds are automatically deducted from your selected payment method each month on your bill’s due date. This ensures your payment is always on time, protecting you from any late fees.
Autopay works with credit cards, debit cards, and bank accounts. You can set it up when logged in to your Comed account online or by calling Comed’s customer service line. Comed allows you to cancel or temporarily stop autopay at any time if needed.
By setting up Comed autopay with your credit card, you can maximize the convenience and benefits of credit card bill payments while avoiding the hassle and stress of remembering to manually pay on time each month. It’s an easy way to simplify bill payment while earning credit card rewards.
Get Help with Your Comed Credit Card Payment
Paying your monthly Comed bill with a credit card offers advantages like rewards and convenience. But it also introduces some new factors to consider compared to check or cash payments. If you need any help getting started with credit card payments for your Comed electricity bill, Comed’s customer service team is available to assist you.
You can log in to your Comed account online and use the live chat function for immediate help. Or call Comed’s customer service line at 1-800-EDISON-1 (1-800-334-7661) 24/7. The Comed team can:
- Explain how to pay your bill by credit card online or over the phone
- Set up convenient autopay options
- Verify your payment info to avoid cash advance fees
- Help monitor charges and disputes
- And more! Don’t hesitate to reach out.
Paying your Comed electricity bill doesn’t have to be a chore each month. By paying with a credit card and setting up autopay, you can simplify the process while earning rewards and benefits. Just be sure to pay your credit card balance off on time every month and notify your card issuer that it’s a utility payment. With a few simple steps, you can make paying your Comed bill much easier.
Commonwealth Edison Company Bill Payment
The Commonwealth Edison Company is Illinois’s biggest electric company. It is a branch of the Exelon Corporation, which is based in Chicago. The Exelon company has over 10 million electricity and natural gas customers. ComEd has more than 4 million customers in northern Illinois, and their service territory is between Iroquois County, the Wisconsin border, Iowa border, and the Indiana border. Hereâs how ComEdâs payment system works, along with everything you need to know about their electric rates. byAmanda SmithPosted December 11, 20228m Read.
Arbor is a free service that lowers your ComEd rate with no changes to your billing or service.
How to Lower Your ComEd Bill
All ComEd customers are free to choose their retail electric suppliers. You can compare the rates and plans offered by certified RESs with the Price to Compare and make an informed decision. You can find the RES list here.
Arbor’s free TrueRate Protection can help you find the best rate based on the Price to Compare.
Arbor scans the market and gives you the best rates you can get in your service area with ComEd. When your term is expiring, Arbor finds the best rate and switches you again. You always pay the best rate and never have to worry about overpaying for electricity ever again.
You can use the free savings calculator to find out how much you could save in each case. Electricity payments can be complicated, thats why a lot of people trust Arbor to manage their electricity service, so they end up saving on their energy bills.
To reduce your bill further, you can opt for energy efficiency programs that offer rebates and discounts as incentives. You can learn more about ways to save here.
To set up your ComEd account, you need to register on ComEdâs website.
Follow these steps to set up your new account.
- Go to this link to start the registration process.
- Choose what kind of account you have. For a residential and business account, go here directly.
- Type in the main phone number linked to your account along with the last four digits of your Social Security Number (SSN).
- Start putting in your information, like your full name, email address, password, and security questions.
- Verify the information and link your ComEd account.
- Soon after, you’ll get an email confirming that the account was set up.
You can log in using your email here.
ComEd – My Account
FAQ
Can I pay electric bill using credit card?
Pay using credit, debit or prepaid cards powered by Mastercard, Visa, or JCB. Pay in advance or settle overdue bills direct to Meralco. Pay for disconnected service.
What bills Cannot be paid with a credit card?
Depending on the type of bill and the merchant, you may be able to use a credit card to pay bills. Mortgages, rent and car loans typically can’t be paid with a credit card. You might have to pay an extra fee if you use a credit card to pay some bills, like your utility bills.
Is there a way to pay a bill with a credit card?
Services, utilities, and taxes can often be paid with a credit card but with a processing fee. Loan payments are usually check or bank withdrawal payments only.
How can I make a payment on ComEd?
To make a payment on ComEd, you can sign in to your ComEd . com My Account and go to the My Bill & Usage category under the My Account section. Alternatively, call us at 1-800-588-9477 to make a payment with a credit card, debit card, or your bank account. Business customers should call 1-877-426-6331. Payments can also be made by mail.
Will ComEd charge additional fees if I pay by credit or debit card?
Life just got a little bit easier. As of 9/15/2021, additional fees will no longer be assessed by ComEd on payments made by credit and debit card. You will not have to pay any extra fees when we make this change. The refund will show up on your ComEd bill in 4 to 6 weeks. No action is needed from you.
Does ComEd charge a convenience fee?
PSA: ComEd and Nicor will no longer charge a convenience fee when paying via credit card. Life just got a little bit easier. As of 9/15/2021, additional fees will no longer be assessed by ComEd on payments made by credit and debit card. Any fees that may appear as we implement this change will be refunded and appear on your ComEd bill in 4-6 weeks.
How is ComEd a good for a payment plan?
ComEd is known to be good about payment plans. However, if a customer defaults on a payment plan, they may not be eligible to rejoin the program, even if they never received a bill. If you call and inquire, a representative may inform you that a bill was sent out.
How long do I have to pay my ComEd Bill?
DUE DATE. You have 21 days to pay the bill you receive each month. If you pay by mail, please allow one week to ensure your payment is delivered to ComEd before the due date. A charge will be assessed for checks that are returned for any reason. NSF fees applicable for your fnancial institution may also apply.
How do I pay my energy bill with ComEd?
ComEd offers several billing and payment options to help customers manage their energy bills. To get started, log in to ComEd. com/MyAccount or call ComEd at 1-800-334-7661, Monday through Friday, 7 a. m. – 7 p. m.
