Avoiding Credit Card Late Fees

Late fees. Nobody likes them, but somehow the payment due date creeps up on you and passes. Some credit cards charge as much as $50 for a late payment! When you are already scrambling for money to make a payment this can really hurt your wallet.

There is no real secret to avoiding credit card fees. The main rule is do not spend beyond your means. The following are some strategies that will help you avoid these fees and maybe even beat the credit card companies.

Always Pay Your Bill
The simplest way to avoid credit card late fees is by making a habit of paying your full credit card bill on time each month. When you do this, the few times you are unable to pay your full credit card bill you will still be able to make the minimum payment on time. Make sure and follow the guidelines on your credit card bill and send payment via check, money order, or other approved payment method.

Credit card payment guidelines may require that payment is received by a certain time of day and many credit card companies also require that payment is sent in the envelope they provided with the bill. If you fail to meet the guidelines your credit card company can take up to 5 days before they process your payment, which can make your payment late.

Make the Minimum Payment Immediately
A great way to prevent late fees is by paying the minimum amount due immediately on receipt of your bill. By paying the credit card down by the minimum payment so promptly, you ensure you will not receive a late payment charge. If you like you can make a larger payment later based on the guidelines on the bill.

Change Your Due Date
If you have trouble saving money and your credit card bill due date is at a time of the month you are regularly low on cash you should consider changing your due date. Contact your credit card company to see if this option is available to you. By changing your due to date to a time when you receive your paycheck or otherwise have money, it will be easier to pay the bill before spending your cash reserves.

Pay by Phone or Internet
If you realize your credit card due date is only a day or two away call your credit card company and make a payment by phone instead of mailing a check. Many credit card issuers will also allow you to create an online account that you can make monthly payments to through your bank. Watch out though, some companies will charge $5 or more to make a payment by phone.