Anyone who has the paycheck to paycheck roller coaster knows and loathes the saying late fees. The true irony of the term is that borrowers usually don't see it until it's too late. Remembering and saving enough cash to pay bills on time can be hard, especially to those with new expenses to pay. It's important to prevent paying late, though, as it will hinder your bankbook now, and leave you with a lower credit score down the path.
Every credit has a past due charge. If you pay your rent past due, you have to pay an additional processing fee. If you pay your telephone bill late, you may have to pay an another charge to have it pushed back on. Credit cards are the worst, though, because one late payment can result in astounding late penalty 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 info is especially important when it comes to paying credit card accounts. All the fine print on the back of your terms tells you exactly how they want the bill to be paid and when - down to the exact minute. If you don't follow those rules precisely, it can take longer to credit your payment, thus making it past due.
Automatic online payments are a good way to avoid past due fee. 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 pay 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 late charge. This way you don't have to remember the pay 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 following point...
If your expenses are due at a time of the month when money is short, you can always adjust the date your bills are due. Not everyone gets paid on the first of the month. Change your bills to fit your life.
Late fee aren't just a headache for the time being, they affect you over the long run. 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 financing 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 fee 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 past due payments slide in without the late penalty 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 late fee. So, keep on top of the bills, and remember, there's nothing wrong with paying early. - 30719
Every credit has a past due charge. If you pay your rent past due, you have to pay an additional processing fee. If you pay your telephone bill late, you may have to pay an another charge to have it pushed back on. Credit cards are the worst, though, because one late payment can result in astounding late penalty 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 info is especially important when it comes to paying credit card accounts. All the fine print on the back of your terms tells you exactly how they want the bill to be paid and when - down to the exact minute. If you don't follow those rules precisely, it can take longer to credit your payment, thus making it past due.
Automatic online payments are a good way to avoid past due fee. 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 pay 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 late charge. This way you don't have to remember the pay 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 following point...
If your expenses are due at a time of the month when money is short, you can always adjust the date your bills are due. Not everyone gets paid on the first of the month. Change your bills to fit your life.
Late fee aren't just a headache for the time being, they affect you over the long run. 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 financing 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 fee 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 past due payments slide in without the late penalty 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 late fee. So, keep on top of the bills, and remember, there's nothing wrong with paying early. - 30719
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