Credit cards are a great way to manage your funds, especially when it comes to making expenditures on a regular basis, or from a single outlet. However, when it comes to the credit card payment you may face an instance of delayed payment, or even keep track of the due date payment. In either case, you will incur an additional payment, which you can easily avoid. Furthermore, you can avoid the possibility of impacting your credit score, with these incidences.
Here are a few steps you can follow to avoid making any late credit card payments in the near future:
Set up auto payment: This is one of the most convenient and advantageous feature any credit card holder has. This is especially beneficial for those who are well aware of the expenditures made in each month. If the expenditures are fixed, then the card holder can assign this amount to be paid before the due date arrives. To make this step, the account holder would need to contact the lending bank, and opt for the automatic payment option. If you opt for this option, ensure you track the payments after a few months so that you ensure that your account is not misused in any way.
Pay off the bills before the due dates: Delays and penalty payments occur only because the card holder is not aware of the due date. Plenty of distractions or even incidences may distract you, causing your to lose track of the due date. To avoid this credit card payment, the trick here is to pay the credit card payment well before the due date. Ideally, it is best to make the payments at least three to five days after you have made a purchase on the card. If you must have to make multiple payments, do so, as in the long run, it will help you avoid a late payment or delay.
Change your due date: Very often the due date of your credit card payment will be lost amongst the other bill payments. In this way, you lose track of the dues to be paid, and then incur a penalty or added charges. This is normally the cause if your credit card payment is due at the end of the month, the same time where every other bill payment is due. To avoid this situation, you should shift your card payment due date to the first few weeks of the month. The best time to do so is when your salary gets deposited so as to make the payment immediately and avoid any chances of missing it. Furthermore, avoid keeping the due date in the last week of the month.
Sign up for alerts: Signing up for alerts is an ideal choice if you are constantly on your emails or on your phone. You can easily set up a calendar alert or an email alert to make the payment. Furthermore, you can easily track if you have made a payment or not in the previous month.