• Business and Finance
• Family
• Computers and Internet
• Auto and Trucks
• Education
• Health
• Hobbies
• Home Improvement
• Legal
• Marketing

• Home
• Arthur's Articles Home
• Browse Categories
• Browse Authors
• Submit an Article
• Search for Articles

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...

Creative Packaging and Pricing

To make more money with what you are already offering, consider different strategies to make it easier for people to purchase what you offer. Restructuring your pricing and packaging creates more options for your customers. Here are some examples:

1) Bundle them. Offer your services in monthly increments. Instead of working with people session by session, offer a bundle of services. For instance, a personal trainer can offer sets of workouts for 3, months, 6 months, or a year. Add value by including a workbook to chart workout progress. You can also create levels of advancement to create more options for clients. Consider a silver, gold, and platinum program. Each level is a higher price and offers more value to your clients.

If you offer products, consider other ways to bundle things. For instance, a garden shop can put together a spring garden package that includes flower bulbs, a trowel, wildflower seeds, and gardeners' gloves. A restaurant could start packaging their sauces and selling them to customers to take home. A life coach could put together a notebook and CD set to sell online.

2) Change product usage. Railroad ties are now used as decorative items for landscaping. I've also noticed that antique stores are offering faucets as coat hangers. And how about those stretchy bands that people use for workouts?

Arm & Hammer Baking Soda has this strategy dialed in. The product was originally for baking. On their website, the company also suggests you use baking soda for brushing your teeth, as hand cleanser, mouth rinse, deodorant, skin care, crafts for kids, deodorizing your dog, and to extinguish fires. As a result, a simple product that might only be purchased once in a while has been transformed into a must-have product.

3) Change your pricing options. Offer your customers an option of paying in installments. Give a discount if customers buy a service early or in bulk. Offer a credit card option or allow people to buy online. Give people coupons, discounts, frequent-buyer rewards, or loyal-customer rebates.

4) Offer it in a new way. For example, a book or a workshop can be turned into a CD program. Certain prospects may not have time to read a book or attend a workshop. But, with your new packaging option, they can listen to your program during their commute or at the gym on their mp3 player. A used furniture store could paint some of their chairs or old frames in creative colors and sell them as functional art.

5) "Plus" it. There is a term called "plussing" that comes from Walt Disney's constant efforts to continually make an good idea even better. An example of this is adding a playable scavenger hunt game to the waiting area of the Haunted Mansion at Disneyland Park. Hallmark Cards also uses the concept of plussing. When their creative team develops a new product idea, they invite all of their other divisions to follow a concept and spin off additional new products.

ACTION STEP: Take a look at your packaging and pricing. What at your company works well right now, but can be plussed or made better? How your services or products be bundled? What pricing options can you add? How can your products/services be made to be even more remarkable? By providing a variety of options to customers, you will make more sales.

Copyright 2006 Marketing Maven