Save Money On Credit Card Fees By Watching For These Changes On Your Monthly Bills

Posted on December 16, 2008
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Don’t pay needless fees because you are unaware of small changes that credit companies make on your monthly bills.

Credit card companies have drastically reduced the time between when your bill arrives in the mail and when it is due. It used to be that you had several weeks to mail in your check. But, if you inspect the due date on these bills, you’ll see in some cases you now have as little as one week to get your payment to them. This means that as soon as you get your bill, you need to be prepared to write a check that day.

As credit card companies become wealthy on fees from the mistakes of the consumer (late payment, over limit, and bounced check fees), it is now very important for you to read your bill so you don’t get hit with these charges that can drain your checkbook. Every month, check the payment due date as soon as the bill arrives in the mail—you no longer have the luxury of opening your mail once a week.

Another ‘gimmick’ I have noticed within the past year is that the payment remittance address (where you mail your payment) changes frequently or sometimes even from month to month.

I have a car payment that now needs to go to Phoenix instead of Baltimore—increasing the mailing time by a week from where I live. The bill arrives about ten days before it is due, so I now have to mail the check right away or they won’t get it on time.

The power company in my area that used to have a local payment address recently changed it to one out of state. In the past, my check took three days to clear my bank account but it now takes a week. I can no longer wait until the last minute to get my payment in the mail or I’ll be hit with a late fee.

Consider making online payments, but only if you’re not going to be charged for it. Yes, there are some companies who will charge you a ‘courtesy fee’ to make a payment on their website. I refuse to pay a business to accept my money, and neither should you.

Be a smart consumer and take the time each month to look for changes in the due date or remittance address on your bills, and then adjust the timing of your payments. You won’t get hit with credit card fees, and you’ll have more of your hard earned cash in your own pocket at the end of the month!

©2007 Kathy Swann

Kathy Swann is the author of the “How to Win” series of self-help eGuides. Her latest eGuide “How to Win When You Organize Your Home” is now available at http://www.suncatcherpress.com

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