These days, we do not have to carry cash around to be in a position to make purchases. You just need a credit card to swipe any time and pay later. In spite of the convenience that comes with this kind of payment, failure to pay your credit card bills on time can attract substantial penalties and negatively affect your credit score. But even if you have discipline in using the credit card, emergencies such as natural disasters, accidents, or disease can hamper your ability to settle your credit card bills promptly. Below is a rundown of some tips you can use to handle your credit card bills during an emergency.
Talk to your Credit Card Issuer
In case of an emergency, and it is apparent to you that you won’t be in a position to pay your credit card bills on time, it is imperative to inform your credit cash issuer before the due date. Calling them will give you a chance to explain your situation and also allow the credit card company to prepare a special plan for you after carefully considering your situation.
Don’t Fear to Negotiate
Before making the call, you have to make sure that you have all the facts right. Most importantly, you should be able to answer the questions of when you will be in a position to start paying them and how much. Do not be afraid of negotiating payments dates, late fees, and even interest rates among other factors that may be of interest to you.
Don’t Waste Time
When an emergency occurs hampering your ability to pay credit card bills on time; do not wait to call the credit card issuer in last minute; make the call as soon as possible. This may be a tense call, but have to treat it like any other business call. Besides, it could be the only way to keep your record history clean.
In a nutshell, it is apparent that emergencies can negatively affect your ability to pay your credit card bills as required. However, there is no cause for panic; you just have to talk your credit card issuer and explain yourself. This might save you from negative credit score at the time you probably need the credit card most.