Navigating Credit Card Late Fees
Sick of Those Credit Card Late Fees?
In a perfect world, everyone would pay their credit card the day that it comes in the mail and no one would have to worry about credit card late fees. Unfortunately, life is not always that simple. Most people are extremely busy and rarely have time to enjoy a meal, let alone sit down and pay their bills according to a schedule. However, as anyone who has paid credit card late fees knows, a busy schedule can cost you. Here are some tips to avoiding credit card late fees.
Get Organized
You must pay your minimum monthly payment on time or your credit card company will pile on credit card late fees that can be $30 or more. One of the first steps you need to take to ensure you don’t get hit with this fee is to get organized and make sure your bills get paid on time.
Some people assume that those who don’t pay their bills on time do so because they have money trouble. This isn’t always the case. Some consumers who incur credit card late fees don’t have any money trouble -- what they lack is time. A personal planner can help in this department.
The type of planner that you choose will depend upon your individual preferences and personality. Franklin Covey provides exceptional products for personnel organization. If a Franklin Covey store is not in your area, you could buy a personnel planner at a nearby Wal-Mart or similar stores. Many consumers also find that electronic organizers help them stay on top of things. Do whatever works for you.
Use It
If you want a personal planner to keep away the credit card late fees, you have to use it. In this planner, you should write down a list of payment dates for all your bills. Then, you should allow five business days for your payment to be received. Using this planner will give you a good overview of your bill situation.
If money is an issue, then a personal planner can help you prioritize your bills and pay the most important ones first. Utility bills usually only charge a small late fee of a few dollars; therefore, it may be wise to pay your credit card bills before your utility bills (unless you’re at risk of being shut off).
Budget, Budget, Budget
One of the most important tools in avoiding credit card late fees is a workable budget. A budget is not rocket science by any means. It is simply a ball park estimate of your expenses. The rest is addition and subtraction. Don’t neglect this all-important step of avoiding credit card late fees.