Owning a credit card makes it a whole lot convenient for you when you are making purchases of any item. Whether it is that favorite restaurant that you want to check out or you are clued into that latest gadget that you wanted to buy for months, a credit can get you those things.
But unlike debit and prepaid cards, a regular credit card is a type of loan that must be paid back to the credit card company. Credit card handlers who do not keep up with monthly repayments each month (regardless if it is in full or in partial) will be bombarded with additional late fees.
If your repayments have been long overdue, you can significantly hurt your credit rating. There are ways that you can do to help you avoid paying late and to avoid unnecessary late repayments fees.
Things You Need to Do Avoid Late Payments:
1) Consider a prepaid debit card
If you never want to worry about late fees again, debit cards are the way to go. You can only spend the amount of money that’s on them so you will never pay a huge $49, $69 late fee.
2) Paying the bill on the same day it reaches you
One of the most effective ways to avoid dealing with late credit card fees is to pay the bill immediately the day it arrives. Doing so will give you a peace of mind knowing that by paying the bill early or on time, you will not have to worry about late fees and when you have a balance, interest fees.
3) Paying your bill over the internet
Just about every bill these days are being paid via an online payment medium. This is far convenient and very easy to do. Like other utility bills, you can do the same with your credit card bills. All you need to simply do is set up an automated billing payment medium with your bank account and you are good to go.
4) Automated reminders
If you are too busy putting your mind on other things and you do not have the time to check up on your credit card bills, you can sign up for messaging or e-mail alerts from various online bill reminding sites. This will remind you to pay up when you need to every time your credit bill arrives.
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The editor of Capital Research Institute digest, and pursuer of relatively interesting information. Simon has a Masters Degree in Creative Writing and Journalism from the University of Wales, and is a photo-journalist and writer whose written and photographic work has been represented by the AFP news agency and appeared in newspapers across Europe and Asia.