Anyone who has rode the paycheck to paycheck roller coaster knows and despises the saying past due fees. The true irony of the expression is that you usually don't see it until it's too late. Remembering and saving enough cash to pay expenses on time can be hard, especially to those with new bills to pay. It's important to avoid paying late, though, as it will hinder your bankbook now, and leave you with a lower credit score down the path.
Every account has a late penalty. If you pay your rent late, you have to pay an additional processing charge. If you pay your phone bill past due, you may have to pay an extra charge to have it clicked back on. Credit cards are the worst, though, because one late payment can result in astounding past due charges and a higher interest rate immediately. With that in mind, here are some help on how to keep from paying late and paying more.
Following all the insight is especially worthwhile when it comes to paying credit card expenses. All the fine print on the back of your bill tells you exactly how they want the bill to show up and when - down to the exact minute. If you don't follow those rules precisely, it can take more time to credit your payment, thus making it past due.
Automatic online payments are a helpful way to avoid past due penalty. Most credit card businesses and other bill receivers allow you to set up an automatic monthly payment from your account. You can set it up to charge the minimum amount each month. You can always make an extra payment during the month, but you won't have to worry about getting stuck with a past due charge. This way you don't have to remember the due date or even buy a stamp to mail your expense. You just have to remember to have enough cash in your account to cover at least the minimum amount due. Which brings us to our next point...
If your expenses are due at a time of the month when cash is short, you can always change the date your charges are due. Not everyone gets paid on the first of the month. Change your charges to fit your life.
Late penalty aren't just a bother for the time being, they affect you over the long term. Poor credit scores can keep you from getting lower interest rates, which is especially important when it comes to mortgage payments. When asking for any loan or credit card, your credit score will be assessed to evaluate what your monthly payments will be, your interest rate, or whether you will receive the loan or credit card at all. If you don't want to set up payments online, you can also pay by phone. This is a great way to pay immediately with no fears of the mailed payment arriving late. There may be an extra charge for phoning in the payment, so watch out for that.
There Are Bonuses to Paying on Time
If you become an good bill payer, you can get rewards from your credit card. Credit card companies often let a few late payments slide in without the past due charge if you have a history of good behavior. Just make sure you ask. Keeping you as a punctual customer is more important to them than getting one past due fee. So, keep on top of the bills, and remember, there's nothing wrong with paying early. - 29904
Every account has a late penalty. If you pay your rent late, you have to pay an additional processing charge. If you pay your phone bill past due, you may have to pay an extra charge to have it clicked back on. Credit cards are the worst, though, because one late payment can result in astounding past due charges and a higher interest rate immediately. With that in mind, here are some help on how to keep from paying late and paying more.
Following all the insight is especially worthwhile when it comes to paying credit card expenses. All the fine print on the back of your bill tells you exactly how they want the bill to show up and when - down to the exact minute. If you don't follow those rules precisely, it can take more time to credit your payment, thus making it past due.
Automatic online payments are a helpful way to avoid past due penalty. Most credit card businesses and other bill receivers allow you to set up an automatic monthly payment from your account. You can set it up to charge the minimum amount each month. You can always make an extra payment during the month, but you won't have to worry about getting stuck with a past due charge. This way you don't have to remember the due date or even buy a stamp to mail your expense. You just have to remember to have enough cash in your account to cover at least the minimum amount due. Which brings us to our next point...
If your expenses are due at a time of the month when cash is short, you can always change the date your charges are due. Not everyone gets paid on the first of the month. Change your charges to fit your life.
Late penalty aren't just a bother for the time being, they affect you over the long term. Poor credit scores can keep you from getting lower interest rates, which is especially important when it comes to mortgage payments. When asking for any loan or credit card, your credit score will be assessed to evaluate what your monthly payments will be, your interest rate, or whether you will receive the loan or credit card at all. If you don't want to set up payments online, you can also pay by phone. This is a great way to pay immediately with no fears of the mailed payment arriving late. There may be an extra charge for phoning in the payment, so watch out for that.
There Are Bonuses to Paying on Time
If you become an good bill payer, you can get rewards from your credit card. Credit card companies often let a few late payments slide in without the past due charge if you have a history of good behavior. Just make sure you ask. Keeping you as a punctual customer is more important to them than getting one past due fee. So, keep on top of the bills, and remember, there's nothing wrong with paying early. - 29904
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