Anyone who has the paycheck to paycheck roller coaster knows and loathes the saying late charges. The true irony of the saying is that you usually don't see it until it's too late. Remembering and saving enough cash to pay bills on time can be difficult, especially to those with new bills to pay. It's important to prevent paying late, though, as it will hurt your bankbook now, and leave you with a lower credit score down the road.
Every payment has a past due penalty. If you pay your rent late, you have to pay an extra processing charge. If you pay your communication bill past due, you may have to pay an another fee to have it pushed back on. Credit cards are the worst, though, because one late payment can result in astounding late fees and a higher interest rate quickly. With that in mind, here are some info on how to keep from paying late and paying more.
Following all the guidelines is especially worthwhile when it comes to paying credit card accounts. All the small print on the back of your statement tells you exactly how they want the expense to arrive and when - down to the exact minute. If you don't follow those rules precisely, it can take more time to process your payment, thus making it late.
Instant online payments are a good way to get around past due charge. Most credit card companies and other account receivers allow you to set up an automatic monthly payment from your account. You can set it up to charge the minimum due each month. You can always make an extra payment during the month, but you won't have to worry about getting handed with a late fee. This way you don't have to remember the pay date or even buy a stamp to mail your bill. You just have to remember to have enough cash in your account to make 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 expenses are due. Not everyone gets paid on the first of the month. Change your expenses to fit your life.
Past due penalty aren't just a nuisance for the time being, they affect you over the long term. Poor credit scores can keep you from obtaining lower interest rates, which is especially important when it comes to mortgage payments. When asking for any financing or credit card, your credit score will be assessed to determine 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 penalty for phoning in the payment, so watch out for that.
There Are Benefits to Paying on Time
If you become an on-time 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 past due fee. So, keep on top of the bills, and remember, there's nothing wrong with paying early. - 29969
Every payment has a past due penalty. If you pay your rent late, you have to pay an extra processing charge. If you pay your communication bill past due, you may have to pay an another fee to have it pushed back on. Credit cards are the worst, though, because one late payment can result in astounding late fees and a higher interest rate quickly. With that in mind, here are some info on how to keep from paying late and paying more.
Following all the guidelines is especially worthwhile when it comes to paying credit card accounts. All the small print on the back of your statement tells you exactly how they want the expense to arrive and when - down to the exact minute. If you don't follow those rules precisely, it can take more time to process your payment, thus making it late.
Instant online payments are a good way to get around past due charge. Most credit card companies and other account receivers allow you to set up an automatic monthly payment from your account. You can set it up to charge the minimum due each month. You can always make an extra payment during the month, but you won't have to worry about getting handed with a late fee. This way you don't have to remember the pay date or even buy a stamp to mail your bill. You just have to remember to have enough cash in your account to make 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 expenses are due. Not everyone gets paid on the first of the month. Change your expenses to fit your life.
Past due penalty aren't just a nuisance for the time being, they affect you over the long term. Poor credit scores can keep you from obtaining lower interest rates, which is especially important when it comes to mortgage payments. When asking for any financing or credit card, your credit score will be assessed to determine 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 penalty for phoning in the payment, so watch out for that.
There Are Benefits to Paying on Time
If you become an on-time 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 past due fee. So, keep on top of the bills, and remember, there's nothing wrong with paying early. - 29969
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