If you have a credit card, you know the importance of making on time credit card payments. Credit card companies are quick to charge late fees as high as $35 or more for late payments, with no grace period. Obviously, the solution to this is to always make your payments on time. In our busy, hectic lives, however, sometimes we can forget or get distracted and payments end up late.
In order to ensure that your credit card payments arrive on time and you won’t be charged costly late fees, try these:
~Automatic Payments
Probably the easiest way to make sure your payment is on time is to use automatic payments. Most credit cards will allow you to set up automatic payments by linking your checking account to the card. You simply set a date and amount for each month and the money is automatically withdrawn to make your payment. Super easy, and always on time.
~Email Reminders
Some companies will email you a reminder that your credit card payment is due a week to ten days ahead of time. If your credit card offers this service, take advantage of it to help you remember to send in that payment. And don’t forget to check your email!
~Alarm
Another alternative is to simply set an alarm either on your phone or computer. Set it to alert you at least a week before the payment is due, so you will have time to make the payment. Choose a device that you will check regularly.
~Set Up a Bill-Paying Schedule
With a little discipline, you can organize your bills into a payment schedule. Just figure out the due dates of all the credit card payments and create a schedule of when to pay them. Exactly how you organize it is up to you, but just so you are reminded to pay certain bills on certain days.
~Calendar
Lastly, use a tried and true method: mark your bills on the calendar. Whether it is a desk calendar or a wall calendar, visually seeing when a bill needs to be paid in relation to what day it is can help keep deadlines in the forefront of your mind. This is so there is a less chance of missing the due dates.
Efficient money management is rarely a fun task, but it can be a doable one with a little effort and organization. It is worth the time it takes to develop a system of making on time credit card payments. Once a system is in place, it will save you much frustration and last-minute scrambling to pay a bill. Not to mention save you late fees and help keep your money where it belongs – with you!
