Tips for Avoiding Credit Card Late Fees
Wednesday, February 20th, 2008The late fee gets some people every time. They would be able to pay their credit card bill if it weren’t for the additional fee. Once that extra amount is tacked on, the minimum balance becomes too high and they can’t make the payment. This leads to getting a late fee on the next statement because the amount couldn’t be paid off. It’s a cycle that can perpetuate itself and get out of hand. However, it doesn’t have to get out of control. You do have control over whether or not you acquire late fees on your credit card debt.
Here are some tips that you can follow to help you avoid credit card late fees:
• Get organized with your bills. Some people just get late fees because they forget to pay their bills on time. Write the due date in red on your wall calendar, set your online calendar to issue you an alert or sign up to have bills pay automatically from your checking account. If you have the money to pay the bill on time, you shouldn’t be getting late fees because you’re forgetful.
• Pay the bill two weeks before it’s due. Most people get paid every two weeks. If you plan to use the check closest to your credit card due date to pay the bill then you might find that you sometimes miss the mark. Instead, plan on using the check that comes prior to that one so that you have a back-up plan in case something goes awry. It can be difficult to get this change started but it’s worth the security of knowing that you’re not going to get that late fee every month anymore.
• Change your billing due date. Some people get late fees because their paychecks don’t fall during a time that’s convenient to pay their credit cards. Did you know that you can usually change the monthly due date of your bills? Just call your credit card company and ask a customer service representative about making the switch.
• Borrow money from a friend. It’s better to owe someone else a small amount of money for a week or two than to miss your payment, get fined and be unable to pay your bill at all.
Late fees are fines that are imposed because you haven’t been responsible about paying your bill in a timely manner. Take it upon yourself to get it together so that you can stop giving your money away. You’ll have less stress and more money, things that everyone wants to have!
