As now the credit card late fees is on the rise and associated costs have become more severe, now it has become more important for us to make timely payments each month.
It is true that still people are using conventional methods for paying credit cards, such as snail mail and telephone payments, but nowadays there is a much better method available for paying credit cards. This method is free, fast, and secure, and by choosing this method you may avoid late payments.
The method about which I am talking is electronic payments. It would be very easy for you to setup electronic payments with your credit card issuer so that you could quickly and safely send payments online from your bank account to any of your credit card providers.
I suggest you to adopt electronic credit card payments because they are easy to execute, well documented and much faster than payment through the postal service, and moreover they don’t carry associated fees which often come with telephone payments.
You might be thinking that this tip is quite easy to follow, but still I have seen many people continue to pay their credit card bill(s) using traditional methods of bill payment, despite of such a fast and free method people are still using the pay-by-phone option although they charge some fees also.
There are no such reasons to avoid this payment method as it is really quite simple to set-up electronic payments online.
It is determined by the Fair Credit Billing Act that credit card issuers have to send your statement at least two weeks before the payment due date, but if they use any other method it may take days to reach you.
And after that you have received it the faster you send the payment the less will be the chances that you miss the payment, because in case you are not able to send the payment on time then you will have to pay late fees and this will in turn create a possibility of credit score repercussions.
I do not want to mention it but I must say that universal credit default can quickly turn a 0% APR credit card into an APR above 30% which could be considered as credit card monster.
Let us face it. Making your credit card payment(s) each month is not a fun you must have to take it very seriously, when can get things done in minutes by just a click online then why to take a risk of late payment.
Are the finance charges that are charged by our credit card issuers not enough? Then why to give them a chance to hit us with us late fees for late payments?
And remember one thing that not even a minute would be wasted by the credit card issuers to penalize you even if you are just a day late in making your credit card payment.
If you feel you can´t trust yourself with your credit cards you might be better off cutting up your cards and living purely on ready cash, living within your means takes discipline initially but is both rewarding and beneficial to your health.