How to Avoid Making Late Payments If You Are Behind on Your Credit Cards
Late payment can affect your credit report by making your credit score drops by a few points. You don’t have to be too alarmed if you miss the due date. Just one late payment will not do much harm to your credit score. If you quickly take action, you will be able to save your credit score from slipping further to a poorer rating.
If you are already behind your credit card, you can set up a payment reminder to make payment promptly on the next due date. Many credit card companies allow you to set up payment reminders through SMS text messaging and email. You can set up an alarm to remind you about the due date of your credit card bill on your own smartphone if your credit card company did not offer this feature.
To ensure that you make payment for your credit card bill on time, you should pay online via your bank site or the credit card company site. Many bank provides the facility that allow customers make repayment for their credit card bill via internet banking. You can call your credit card company and ask them to let you pay your credit card bill on the phone in case your internet is down or the site is inaccessible at the due date.
Once you have make the repayment, it will show a receipt that confirm your payment has gone through successfully. You should use your printer to print out the receipt so that you can show it as proof of payment. If you believe that your credit card company has mistakenly charge you a late fee, you should give them a call them to look at your history and remove it from your account. If your bank refuse to remove the late fee, you can submit a complaint to the CFPB. The CFPB will contact your credit card company and help you to get the issue resolved.
If you can afford it, you should not just pay the minimum amount and roll over the balance to the next month. Instead, you should pay in excess of the minimum amount so that the credit card bill can quickly get cleared off. Paying your credit card debt in full every month allows you to avoid the interest charges. It is important that you always review the credit card interest charges and fees so that you know how much you are expected to pay when the statement arrives.
You can write down the due dates for all credit cards on a notebook. As you pay off each credit card, you should cross them off on your notebook. If you are not able to make it to repay on the due date, you can check and see if it is possible for you to change the due date to a later date in the month.