Since the international Domain Name System is based on fees, it is vitally
important that the renewal fees are paid each year, to keep your domain.
ICANN.Org which sets the policies and basic rates, builds in a generous "grace period" for domain owners according to a standard schedule.
You have about a week or so, to be able to renew your domain, in case you forget. If it has been about a month since the payment, then you may have to pay a $85 fee to get it back. In any event, you don't want your domain to be down, or turned in to a parking page, so prompt renewal is important.
The AutoRenew feature will give you peace of mind, by automatically renewing
your domain name fee, under $8, on your credit card each year.
One loop hole in the automatic billing is that credit cards change their date every 3 years or so.
CIReg now has an option to "avert the expiration that has
not yet come."
It is important to enter checking account as a payment method, rather than a credit card, at least as a backup. I use my corporation's checking account with a local bank, which has no expiration date. To do this select:
Be sure to remember the importance of setting up a checking account as a backup payment method. This prevents losing a valuable domain name just because a small (about $7) charge on an expired credit card did not go through on the yearly AutoRenew.
This brings you invincibility and peace of mind regarding your valuable domain portfolio.