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Don't Pay Late

Updated: 9/16/2019
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13y ago

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Save money by making your credit card bill payment as soon as you receive the bill in the mail or online. If you wait a few more days to weeks before making the payment, interest charges accrue daily for most accounts. This may just seem like a small amount, but over time it really can add up to a lot of cash.

When you do make your credit card payment, always allow enough time for the payment to reach your creditor prior to the due date. Even when paying online, it will take several days for most payments to be logged as paid on your account. If the payment is received even a day late, late fees can be charged by your creditor. If you send a credit card bill payment by mail, try to allow at least 5 days for travel time for your payment to reach the creditor and to be posted as paid. Many late fees are around $30 to $40 each, and this could even be larger than the payment you were supposed to be making!

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