Creditnet Weekly Tip
Avoid Credit Card Late Fees: Pay More Often!
The average credit card late fee hovers around $40, which is triple what it was just a decade ago. And it's not just the 40 bucks that will hurt you each time you miss a payment deadline. Punitive increases in interest rates and negative marks on your credit reports can cost you thousands more in various fees and charges down the road.
So, what can you do about it? The best way to avoid credit card late fees is to stay ahead of the game by paying your bills more often. With grace periods shrinking and due dates fluctuating, scheduling payments for your credit cards twice a month can help ensure there will never be a mistake. And of course, it's always a good idea to make your payments automatic whenever possible.
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