How to Avoid Late Fees
Although it may be overstated, there is a lot of truth to people ruining their
credit score due to missing payments and paying their credit card bills late. The fees can pile up
and the interest rates can grow before you know it, and after a while you won’t even be able to pay the minimum
amount of payment. If you don’t do something fast - it could be the beginning of the end.
To make sure this don’t happen to you, you should always pay your bill on time, and always avoid missing a
payment. Sometimes, it can be hard to make your payments on time, although you should always do everything in your
power to ensure that you stay on top of things. Below, you’ll find some tips to help you with your credit card
As stated above, you should always pay your bill on time. If something comes up and you aren’t able to pay,
you’ll be penalized. Even though you may think what has come up will justify a late payment, it doesn’t justify the
means in the eyes of your credit card company. Inside of your bill, you’ll find detailed instructions regarding
payment. You should always follow them as accurately as possible, pay where and when you are supposed to pay - and
do it on time.
If you simply aren’t able to pay your entire bill, you shouldn’t worry about it - but instead pay the minimum
amount possible. Even though you may be able to pay more later, you should always pay at least the minimum amount.
Then, when you have more money, you can always add to your minimum payment by sending in an additional payment.
The easiest way to do this, is to always have the minimum payment amount set aside, so that you have it once
your credit card bill arrives. Once you have assured yourself that you won’t be penalized or charged any late fees,
you should look into paying a higher amount than just the minimum balance. By paying the minimum amount, you’ll
also ensure that no other fees will be added to your next credit card bill.
Another option includes skip a payment, although you’ll need to check whether or not your credit card company
offers it or not. This service will allow you to request a waiver regarding your payment, when something comes up
and you don’t have the money to pay your bill. Make sure that you use this service wisely if you have it, as it can
only be used once a year. Therefore, you should always ensure that the situation is truly an emergency and there
are no other options available for you. This service will normally have a cost as well, and you’ll need to pay it
the following month.
Although credit cards can be great for numerous reasons, you should always know your interest rates and have a
good general idea of what your bill is going to be before you make a purchase. Many times, those who have credit
cards will make purchases, knowing they can’t make the payments - then suffer when they get the bill and aren’t
able to pay it.
Anytime you have a credit card, you should always make sure that you have the money to pay the bill, or the
minimum amount, the minute it arrives. This way, you’ll remain in good standing with your company and your
credit score will continue to increase. If you simply aren’t able to make your payment, you should
contact your credit card issuer immediately and see if you can
work something out.
Credit in Minutes Tip #1
Stay on top of your credit report. Most credit reports contain errors. Make sure you check your credit report
every year (you get one free credit report every twelve months) and if there are errors make sure to challenge them
with the reporting credit agency. Credit agencies are required to investigate each and every challenge that gets
Credit in Minutes Tip
Just because you qualify for all of those credit cards does not mean you should get them. A person with too many
credit cards looks sketchy in the eyes of a potential creditor. Think of it this way: if a person is financially
stable does he or she need ten different credit cards? Wouldn’t just one or two suffice?
Credit in Minutes Tip
The best way to raise your credit score is to make all of your payments on time. It sounds too simple to be
true, but that’s all there really is to it. Staying out of debt and/or making all of your debt payments on time
will keep your score up where it should be.