How to Pay Your Midas Credit Card Bill
How Midas Credit Card Payments Work
Midas is a credit card issued by Customers Bank, and you can pay your bill online through their website, by phone, by mail, or through automatic payments from your bank account. The payment goes to Customers Bank, not to Midas directly — Midas is the brand name on the card, but Customers Bank owns and manages the account behind it. Knowing this matters because if you ever need to dispute a charge or ask about your account, you'll be talking to Customers Bank's customer service team.
Your payment due date appears on your monthly statement and is typically 21 to 25 days after your statement closes. The minimum payment is the smallest amount you can pay to keep your account in good standing, but paying only the minimum means you'll pay interest on the remaining balance. Paying your full statement balance by the due date means no interest charges at all.
Key Takeaways
- You can pay Midas through Customers Bank's website, by phone at the number on your card, by mailing a check, or by setting up automatic payments from your checking account.
- Payments made online or by phone typically post within one business day, while mailed checks can take 7 to 10 days to reach the bank and post to your account.
- Paying after your due date triggers a late fee and reports to credit bureaus, which can lower your credit score even if you pay just one day late.
- Setting up automatic payments from your bank account removes the risk of forgetting and ensures your payment arrives on time every month.
- If you can't pay the full balance, paying more than the minimum reduces the interest you'll owe and helps you pay off the card faster.
Paying Online or by Phone
The fastest way to pay is through Customers Bank's online portal. Log in to your account at the Midas website or through the Customers Bank portal, select "Make a Payment," enter the amount you want to pay, and confirm. The payment posts to your account within one business day. You can pay any amount from the minimum due up to your full balance, and you can make multiple payments in a single month if you want to.
If you prefer to pay by phone, call the number on the back of your card. A representative will ask for your account number and the amount you want to pay, and they may ask security questions to verify your identity. Phone payments also post within one business day. Both online and phone payments are free — Customers Bank does not charge a fee for paying this way.
Setting Up Automatic Payments
Automatic payments remove the risk of missing a due date. You can set them up through the Customers Bank website by linking your checking or savings account and choosing a payment date and amount. You can set the payment to cover your minimum due, your full statement balance, or a fixed dollar amount you choose. The payment will pull from your bank account on the date you select each month.
If you set automatic payments to cover your full statement balance, make sure the payment date is on or before your due date — not after. Some people set the payment for a few days before the due date to give the bank time to process it. You can change or cancel automatic payments anytime through your account settings, so if your situation changes, you're not locked in.
Paying by Mail
If you prefer to send a check, write it to Customers Bank and include your account number on the check. Mail it to the address shown on your statement — this address is different from the Midas customer service address, so check your bill carefully. Mailed payments take 7 to 10 business days to arrive and post, so send your check at least two weeks before your due date to be safe.
The risk of mailing a check is timing. If your check arrives after your due date, you'll be charged a late fee and the late payment will be reported to credit bureaus, even though you sent it on time. For this reason, most people who pay by mail send their payment earlier than they would pay online.
What Happens If You Pay Late
A payment is late if it arrives after 11:59 p.m. on your due date. Customers Bank charges a late fee — the amount varies but is typically $25 to $35 for the first late payment. If you're late again within six months, the fee may be higher. More importantly, a late payment is reported to the three credit bureaus (Equifax, Experian, and TransUnion) and can lower your credit score by 100 points or more, depending on your current score.
A single late payment can stay on your credit report for seven years, affecting your ability to borrow money, rent an apartment, or even get a job in some fields. If you miss a payment, contact Customers Bank as soon as you realize it. Some banks will waive a late fee if you call within a few days and have a clean payment history, though they are not required to do so. The sooner you pay, the better.
Understanding Interest and Minimum Payments
Midas charges interest on any balance you carry from month to month. The interest rate (called the Annual Percentage Rate, or APR) is set when you open the account and appears on your statement. If your APR is 18%, for example, and you carry a $1,000 balance, you'll owe roughly $15 in interest that month (the exact amount depends on how many days are in the billing cycle).
The minimum payment is usually 1% to 3% of your total balance, plus any interest and fees you owe. Paying only the minimum means the rest of your balance stays on the card and keeps accruing interest. If you pay $50 on a $2,000 balance, the other $1,950 will be charged interest next month. Over time, this costs far more than paying the full balance. If you can't pay the full balance, paying as much as you can above the minimum will reduce the interest you owe and help you pay off the card faster.
Disputing a Charge and Payment Issues
If you see a charge on your Midas bill that you don't recognize or believe is wrong, contact Customers Bank's dispute department. You have 60 days from the date the charge appears on your statement to file a dispute. Customers Bank will investigate and either reverse the charge, confirm it was correct, or ask for more information from you. While the dispute is being investigated, you don't have to pay that charge, though you do have to pay the rest of your bill on time.
If a payment you made online or by phone doesn't appear on your statement within two business days, contact Customers Bank to confirm it was received. If you paid by mail and your payment hasn't posted after 10 business days, call to check the status. Keeping records of when you paid and how much (screenshots of online payments, copies of mailed checks) helps you prove you paid if there's ever a question.
Frequently Asked Questions
Can I pay my Midas card with a debit card or another credit card?
No. Customers Bank only accepts payments from a checking or savings account (for automatic payments or ACH transfers), by check, or through their website or phone line. You cannot pay with a debit card, another credit card, or a prepaid card. Paying a credit card with another credit card also counts as a cash advance and triggers fees and higher interest rates.
What if I pay more than I owe?
If you pay more than your current balance, the extra amount becomes a credit on your account. You can use that credit toward future purchases, or you can contact Customers Bank to request a refund. Refunds typically take 5 to 7 business days to appear in your bank account.
Do I have to pay the full balance, or can I pay just the minimum?
You can pay any amount from the minimum due up to your full balance. Paying the minimum keeps your account in good standing and avoids late fees, but you'll be charged interest on the remaining balance. Paying the full balance means no interest charges and is the cheapest option if you can afford it.
What time of day do online payments post?
Online payments typically post within one business day, but the exact time depends on when Customers Bank processes them. Payments made early in the morning may post the same day; payments made late in the evening usually post the next business day. To be safe, make online payments at least one business day before your due date.
Can I change my due date?
Yes. Contact Customers Bank through their website or by phone and ask to change your statement due date. They can usually move it to any day of the month that works better for your budget. Changing your due date can help you align your credit card payment with when you get paid.