Should You Change Your Credit Card Payment Deadline?
Nobody likes having to deal with credit card bills, but in today’s society many of us find ourselves faced with these types of bills month in and month out. If you struggle to stay on top of things each month, you might want to consider changing your credit card payment deadline. Wondering why? Read on!
To Spread Out Your Bills
If your credit card bill comes at the same time as other major payments like your mortgage, student loan or auto loan, you may experience a serious drain on your finances.
You may want to spread out your bills a bit. You can ask you credit card company to move your credit card deadline to come a few weeks after those other big bills.
It can also reduce the temptation to make only partial payments on your card, adding more interest you will have to pay over time.
To Simplify All of Your Due Dates
On the other hand, you may find yourself having trouble remembering all your bill due dates and may want to align the date with your other bill deadlines.
Consider simplifying the process by having all the credit card payment dates line up for the same day each month.
A missed credit card payment can do major credit score damage, especially if you have a pristine payment history.
– via Fox Business
Watch Out For Gray Charges On Your Credit Card Bills!
You many not have heard the term ‘gray charges’ before, but chances are you’ve experienced them! If you have a credit card, you likely know all too well the sneaky little unexpected charges that you don’t realize are occurring until it’s too late! Here are a few ways you can make sure your credit card bills aren’t full of gray charges!
Hey, remember that newsletter that let you sign up for a free trial?
Didn’t think so.
How about that old domain name you registered, or your kid’s gaming membership, or the magazine subscription that was initially offered as a freebie. Forgot about those too, didn’t you?
Rest assured those companies didn’t forget. But they are probably counting on you to do so.
That way they can keep charging your credit card, every year or every month, in perpetuity. And you may not even realize what is going on.
There is even a name for all these sneaky little ongoing fees: ‘Gray Charges’.
Such fees are not illegal, per se. But they are designed to keep you on the hook.
Step one for consumers is to go over your credit-card statement with a fine-tooth comb every month, instead of just blindly paying up.
“Gray charges make it even more important to scrutinize your credit card bill and really look at every charge – especially if you are on auto pay,” says Michael Schreiber, editor-in-chief and chief content officer of Credit.com.
If you do discover a sketchy charge, take it up with the merchant or the credit-card issuer. Even if they don’t give you credit for past charges, at least you can nix them going forward.
Most of all, don’t think of a gray charge as a minor issue that is not worth your time. After all, even a measly $5 a month turns out to be $60 a year, which turns out to be $300 over five years.
– via Reuters
Do you have trouble keeping up with your credit card bills each month? Have you found other ways to make the process easier?