Play credit card game: how to avoid late fees
Did you know that some credit card companies willingly send their invoices to customers lately in the billing cycle that you literally have to submit the payment on the day the bill arrives in order to have a chance to get the payment on time! This is a tactic that many companies use to increase the amount of money they earn from their customers as late fees.
You can avoid paying unnecessary late fees in a variety of ways. Check your statement carefully each month to ensure that you are not charging late fees, even if you’re convinced that you are mailing your payments on time.
Make payments online
Almost every credit card company gives you the opportunity to make payments online. This will save you much time. Considering the fact that the envelope sent by regular mail can take two to three days in transport, and then another five to seven days to be processed (and have the payment applied to your account) with your credit card to business. It’s a wonder any payment it makes ever to your account on time! Make an online payment is usually processed within 1 business day to hit “Submit”, sometimes earlier.
Schedule automatic payments with automatic bank withdrawals
In addition, you can often set your account up to automatically paid by your current account on a specified date each month. If your credit card company does not offer it, your bank may have a function to pay the bill, you can use it. Simply select a date a few days before the bill is due. You will never applied after your payment due date and thus eliminate all possible costs of delay.
It is ready to go!
If you are not comfortable with online payments, and you do not like the idea of giving your company access by credit card to your checking account to “pay” you can still beat the system and play the game of credit cards in order to avoid late fees. You know how your every month’s minimum payment is and it’s not usually the same day each month. Ask your check or money order ready to send by mail, or get in the habit of writing when you receive your statement. Make sure the payment is mailed the next day and you should never receive a late payment.
How to manage the costs feared Late
If you have a late fee, if you call frequently and ask them to give it up for you, they will (provided you do not get used to it). They will probably remind you to mail your payment at least 10 days before the deadline because of the postal processing times and firm-specific time to be sure to tell them that you have sent well before maturity date.
If you honestly that you give your payments enough time to get to the business and you are still receiving late fee charges on your account, you might consider mailing your return with a receipt or by certified mail. This way, you’ll have a recording when it was mailed and when it was received and can serve as “alibi” and you do not have to pay a late fee (or give you leverage to have late fee removed if it should be added!)