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Home » Business And Finance Articles » 5 Ways You Can Avoid Costly Credit Card Late Fees

5 Ways You Can Avoid Costly Credit Card Late Fees

Credit card late fees are a fact of life for some consumers, but they don't have to be for you. Legally, credit card companies can hit you with pretty much whatever fees they want. On the other hand, you don't have to pay them, but only if you avoid them in the first place. Here are five sure fire ways you can avoid costly credit card late fees:

1. Pay Before the Due Date. Of course, this makes the most sense. However, this is also the single most important reason why people get socked with fees: they receive their bill and immediately forget about it! When you get your bill, open it up and pay it promptly. Waiting means forgetting and forgetting about your credit card bill will cost you money.

2. Pay on the Internet. If you have access to a computer, then paying online is the best way to make certain that your payment gets to your credit card provider on time. Be careful, as there is still some lag time from when you authorize funds to be released from your checking account and when that payment is finally credited to your credit card account. The gap between the two can be as long as one week!

3. Schedule Automatic Payments. Some credit card providers allow for you to set up a scheduled deduction from your checking account which is then automatically sent to your credit card provider. You should set it up to take money out of your account well before the due date to ensure that your funds are received on time. You can always send in a separate, extra payment if you want to pay down your debt faster too.

4. Question a Late Payment. Even if the credit card company claims that your payment was late, it doesn't mean that you must be charged a late fee. Contact the company and ask them to reverse their charge â€"- which usually runs between $29 and $39 -- and to expunge their records of your tardiness. You not only want to avoid any fees, you want to avoid their possible notification of your lateness to the three major credit report agencies [Experian, TransUnion, and Equifax]. Any information supplied to the credit reporting agencies can work against you in the form of higher interest rates on current cards as well as on future loans!

5. Go with the Citi Simplicity Credit Card. Now, consumers have a new option to help them avoid late fees: Citi's new Citi Simplicity card doesn't charge late fees. Please click the link below for more information about this breakthrough card.

Taking the appropriate action can help you to avoid late fees and allow for you to keep more of your money in your pocket. Become better informed and start saving money today!

Copyright 2006 Edward Vegliante

And here is another random article you might be interested in...

Finding A Payday Loan

When deciding on loans, make sure to do plenty of research. It is important to compare all the possible offers you have to choose from. Many times a payday cash advance from a loan agency is often one of the best choices as far as getting a low APR and finance charges. One aspect of payday loans that makes them appeal to almost anyone is that even if you have bad credit or no credit almost all companies that offer payday loans will still offer you a payday loan no fax, meaning they will give you the loan without conducting a credit check. This makes payday loans appealing because almost every other type of loan involved a credit check to make sure the person is free of delinquent accounts in the past.

Payday loans can be acquired by anyone, even those with a bad credit history. However, keep in mind that payday loans are meant to be paid back within a short period of time. The idea of a payday cash advance is that you receive a payday advance prior to receiving your pay check. Once you have received your next pay check you are expected to pay back your loan.

The amount of money you can receive as a payday cash advance depends on how much money you make. If you have a high income you have a greater chance of being allotted a higher payday loan. The amount of your payday loan is completely dependent on your income because that is what will determine whether or not you will be able to pay back your loan and in what amount of time. Since payday loans are meant to be paid back within a short amount of time, it is important to companies that they do not lend an employee more money than the person will be able to pay by their next payday.

To obtain a payday loan in most cases, all you have to do is complete an application form. The form will ask for basic information about you as well as information about your job and income since the loan amount will be based upon that information. Some people choose to ask for a certain amount of money when applying for their loan but others allow the loan company to decide how much money will be offered to you. So if you are in need of fast cash before your next payday, look no further than a payday cash advance. Not only will you be able to pay your bills and take care of expenses quicker, you will be able to do so with low interest rates and a convenient payback time that keeps you debt free.