Credit Cards
recommended by
our experts

Get Cards
Credit Card eZine - News and Articles about Credit Cards

Credit Card eZine - News and Articles about Credit Cards

Get even more information on credit cards? Read our Credit Card eZine. The section is regularly updated by our specialists. Learn all the financial tricks. Know the pitfalls and hidden bonuses. Find out how to transfer balances and accumulate points. We will tell you about the latest offers on the market.Get your credit card education and make the most out of your plastic.

Late Credit Payments

Monday, November 12, 2007

Like it or not, we must observe certain credit card rules. Check your credit card statements, pay off the balance every month, and so on and so forth. Unfortunately, credit card companies are interested only in your money and your valid excuses are of no use for them. If you are short of money, the advice of paying off your balance in full will sound ridiculous. In this situation, you'd better think about time, as late payments can cause the troubles you've never thought of.

To be a good risk for credit card companies, you should prove your creditworthiness. This principle is true not only for those who start their credit, but for all credit users. When we make credit card transactions, we do not think too much about a pile of credit card bills that turn out be a headache for most of us.

The thing is, some frivolous credit users don't care about the points like late payments and credit card debts. They make their credit card deals impulsively and very often have to pay for their flippancy. And sometimes this price can be extremely high. Let's find out what difficulties you may face if you make one late payment!

It's worth mentioning that penalties for late payments are not limited to late payment fees. If you carry a rewards credit card, you may simply lose those generous rewards at once. Proud of the substantial grace period? Late payments on your credit cards can eat up this bonus as well. In addition to that, you will get immensely high interest rates and troubles with your credit score.

Credit card issuers are so inventive when it comes to fees and penalties. Credit card traps are extremely dangerous for your financial well-being. Perhaps, you've heard something about that notorious 'universal default'. This horrible clause in your credit card agreement means that one late payment on any of your loans is enough to raise interest rates on the other loans.

To escape such credit disasters, find out what penalties you will face in case of making late payments. Some cardholders share their secrets about this problem and point out that it's quite possible to settle this matter with your credit card company. In what way?

Phone your credit card company and negotiate this problem. Explain your situation and ask them to waive this late payment fee. Again, your good credit history will stand you a good turn. And if you are a good customer, most likely they will forgive this late payment.

If your problem is time and you are terribly busy, use online bill paying. It saves your time and you don't have to worry about late payments on your credit cards. To pay minimum payment in due time is better than to pay off the entire balance a bit later. This way, you will avoid pretty high interest rates and fees.

Besides, if you have a good credit rating, your late payment will be a disappointing mistake. So, try to be careful with your payments. Though it may be pretty tough if you carry several credit cards, online bill paying is a good way to take control of your credit card bills.

Share Opinion:
del.icio.us   digg   Furl   YahooMyWeb   Propeller   Reddit  
Comments not found
 

If you have something to say, please leave your comments below.

Your Name: *
Your Email:
Your Comment: *
Enter Number from Picture: * number

* - Required Fields Add Comment
[December 05, 2011]

In a time when banks have begun charging monthly debit fees, baby boomers may be able to find discounts based on their age and experience. Our research reveals some of the best checking accounts for consumers over 50 - and the best part is that they`re free!

Comments (0)
[October 12, 2011]

All data shows that the woman entrepreneur is on the rise.This could be because women tend to work well in groups and are great multi-taskers and communicators. In addition to that, women are also making riskier decisions when it comes to financing their businesses, according to a recent survey by PNC Financial Services. These decisions may have an impact on the longevity of these female-run businesses.

Comments (0)
[September 07, 2011]

With the economic upheaval, obtaining a credit card seems a distant dream, especially if you fail to qualify for any credit card application. Nonetheless, turning into an authorized user, i.e. attaching yourself with a good-quality credit customer`s account and the consent to use it, would boost your credit scores swiftly, and jump start your credit history.

Comments (0)
* The CreditCardSpecialist.com webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. CreditCardSpecialist.com does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the CreditCardSpecialist.com website are property of their respective owners.
We do our best to maintain the information accurate at CreditCardSpecialist.com. However, all the credit cards information is subject to change and presented without warranty. See the up to date credit card terms and conditions on the secured credit card application page. Note that CreditCardSpecialist.com may be compensated by credit card issuers when visitors apply for a credit card through the links on this website.
CreditCardSpecialist.com, an independent, advertising-supported website, receives compensation from the companies whose offers appear on the site. This compensation impacts where and how credit products appear on our site, including, for example, the product listing order in which they may appear on separate pages. CreditCardSpecialist.com does not present or review all available credit or financial offers.
Disclosure: Not an access card.