According to these five tips, you can save yourself from paying penalty charges before making the payment on the due date. For this you just have to follow these rules.
Credit Card Bill Payment: Apart from shopping and electricity bills, many other bills have to be paid every month. In such a situation, if someone forgets to pay his credit card bill on due date, he has to pay a heavy penalty. But according to these five tips, you can save yourself from paying penalty charges before making the payment on the due date. For this you just have to follow these rules.
5 easy tips to avoid credit card late payment charges:
Set up auto-debit:
The easiest way is to get auto-debit of your credit card bill set up by the bank. With this, payment will be made automatically every month on the billing date and there will be no hassle of late fees. The easiest way to avoid paying late payment fees is to set up auto-debit credit card bill payments. Most banks and credit card issuing companies offer this facility, which allows you to set up auto-debit from your bank account to pay your credit card bill on a fixed date every month. This way, you don’t have to worry about missing your bill due date or paying late fees.
Set a reminder:
If you do not want auto-debit, then set a reminder in your phone before the billing date. You will not forget to make payment through this. Now mobile banking apps have made banking services even more accessible. For example, you can use the mobile pay app to check your credit card statement, pay your credit card bill, and set reminders for payment due dates. The app will send you notifications before the fixed date and remind you to pay your credit card bill on time. You can also make payment through the app, which can save both your time and effort.
You can also make minimum payment
Paying at least the bill can also be a convenient option. However, this could instead result in higher interest bills and less debt. One way to avoid this is to try to pay more than the bill is due. This will not only help you reduce your outstanding amount but will also save you from interest charges.
Use credit cards for essential purchases
Using credit cards for unnecessary purchases is not considered appropriate. Spending on things that are not budgeted for or buying things that are too expensive can increase the outstanding balance and make it difficult for you to pay outstanding bills on time. Try using your credit card for essential purchases and use cash or debit cards for other expenses. By doing this you will be able to reduce your outstanding balance and pay your credit card bill on time.
Remember your billing date:
This could be the date when your bill statement is generated. You can see this on your card statement, bank app or credit card company’s website. If you are finding it difficult to make payments any month, contact the credit card company immediately. They can help you set up a payment plan or tell you ways to waive late fees.
By adopting these easy tips, you can avoid credit card late payment charges and maintain your personal finances.
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