Playing The Credit Card Game Avoiding Late Fees
Below is a MRR and PLR article in category Finance -> subcategory Wealth Building.
Playing the Credit Card Game: How to Avoid Late Fees
Did you know that some credit card companies deliberately send out bills so late that you must pay immediately to avoid late fees? This tactic helps them earn more from late fees. However, there are ways to avoid these unnecessary charges.
Tips to Prevent Late Fees
1. Opt for Online Payments
Most credit card companies offer online payment options. This method is faster and more reliable than mailing payments, which can take several days to process. Online payments are usually processed within one business day.
2. Set Up Automatic Payments
Consider setting up automatic payments through your checking account. This involves choosing a date before the bill is due, ensuring your payment is always on time. If your credit card company doesn’t offer this, your bank might have a bill pay feature you can use.
3. Be Prepared
If you prefer not to pay online or give your credit card company access to your bank account, you can still avoid late fees. Know your minimum payment and due date each month. Write the check or money order as soon as the statement arrives and mail it the next day.
Handling Late Fees
If you are charged a late fee, call your credit card company and request a waiver, especially if it’s a rare occurrence. They may remind you to send payments at least 10 days in advance. If you’ve been sending payments timely yet still incur late fees, consider using certified mail to track when it was sent and received.
By following these strategies, you can avoid most late fees and maintain better control over your credit card payments.
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