Help!
I Received a Late Payment Fee

Are you prone to receiving a late payment fee on your credit cards? Read a series of tips to help you avoid being late on your credit card payments. Follow them and I'll almost guarantee that you'll never receive a late payment fee on your credit card again.

Tip #2: Do you still write checks for your bills? If so, always write your account number on the check. It's not a security risk as long as you do not include your expiration date on the check. Mail your check at least 5 to 7 business days before the due date. After that time frame, contact your credit cards to verify receipt of the payment.

Tip #3: Enroll in your credit cards automatic payment service. This type of service will deduct your credit cards payments from a checking, savings, or money market account automatically each month. This occurs on either your payment due date or a date set in the terms of the service. Check with your credit cards for the specifics. As long as you have the automatic payment set for an amount equal to or above the minimum, you'll never receive a late payment fee.

Tip #4: If you're having trouble paying your bill on time because your due date is inconvenient, request a billing date change. Most credit cards allow you to request a change in your due date once a year. It's usually not effective until the following billing cycle though. It's always good to verify what time of the month your due date will be as soon as you receive a new card. That way, you can request the change up front if you need to. Pay your bill at a more convenient time of the month for you.

Tip #5: My final tip to avoid a late payment fee is don't wait until the last minute. There are numerous circumstances that could arise at the last minute causing you to be late. I hear from several people a day who have waited until the last minute possible to make a payment on their credit cards. Unfortunately, they end up calling 1 or 2 hours after the close of business wanting to be on time. When it's past the time due, there's no way to turn back time.

I hope these suggestions have helped you out. If you never receive a late payment fee now, chances are, you're already following some of these tips. Feel free to contact me if you have any additional tips to share with our readers. I'll be happy to post them here.