Credit card companies are raking in dollar after dollar off the American consumer because of the use of their credit cards.
Now more than ever we are using our cards for just about everything.
There isn't a problem with using the cards, where the problem comes in is how silly we are with the use of our cards.
People with good credit are reaping the rewards with good or great interest rates to go along with their cards as long as they pay their credit card bills on time.
Now the problem comes into play when you don't pay your bills on time.
Many credit card companies have late fees on their payments that can range from anywhere between $15 and $50.
It gets worse.
If you did have good credit with the credit card company and you miss one payment that can start a huge snowball effect.
Not only are you looking at paying a huge late charge but now you will probably immediately lose your good interest rate in favour of a terribly high one.
You absolutely want to make sure you're not late with your payments because it becomes very hard to pay off your balance when you're paying late fees and interest rates in the high twenties.
If you usually pay on time and you happen to miss a payment you should get a hold of your credit card company and if you have been in good standing then chances are they will waive the late fee once for you.
You should always remember that you can shop around for cards so if your credit card company doesn't want to work with you then maybe you should be shopping around.
It's very important to read the fine print on your credit card application and contract.
Often you can save a great deal of money by transferring balances from high interest cards to cards with lower interest rates if you have a card like that.
Remember you have the option of shopping around for cards that suit your needs.
If you have great credit then you are even in better shape because the credit card companies will be knocking down your door to give you the best deal because they want your business.
Paying your bills on time is probably the most important thing you should remember.
A good way to avoid late payment because of poor mail delivery is to pay the bills on the internet.
The payment is usually at the credit card company in three days.
That way late payment fees are avoided.
Remember you have the option of transferring balances from high interest credit cards to your lower interest rate credit cards.
This is the smartest thing you can do if possible.
Just remember to read the fine print so you don't fall into any loop holes.
The most important thing to remember is to use your cards wisely.
If you have cash you should use it.
But no matter what at the least make sure your minimum payment is always made but if you can pay the card entirely off at the end of every month.
If all you do is remember these few simple steps you could avoid hundreds and thousands of dollars in payments that you should never have had to make.
Then this money could stay in your bank account instead of into the credit card companies' bank account.
Dale Mazurek
Now more than ever we are using our cards for just about everything.
There isn't a problem with using the cards, where the problem comes in is how silly we are with the use of our cards.
People with good credit are reaping the rewards with good or great interest rates to go along with their cards as long as they pay their credit card bills on time.
Now the problem comes into play when you don't pay your bills on time.
Many credit card companies have late fees on their payments that can range from anywhere between $15 and $50.
It gets worse.
If you did have good credit with the credit card company and you miss one payment that can start a huge snowball effect.
Not only are you looking at paying a huge late charge but now you will probably immediately lose your good interest rate in favour of a terribly high one.
You absolutely want to make sure you're not late with your payments because it becomes very hard to pay off your balance when you're paying late fees and interest rates in the high twenties.
If you usually pay on time and you happen to miss a payment you should get a hold of your credit card company and if you have been in good standing then chances are they will waive the late fee once for you.
You should always remember that you can shop around for cards so if your credit card company doesn't want to work with you then maybe you should be shopping around.
It's very important to read the fine print on your credit card application and contract.
Often you can save a great deal of money by transferring balances from high interest cards to cards with lower interest rates if you have a card like that.
Remember you have the option of shopping around for cards that suit your needs.
If you have great credit then you are even in better shape because the credit card companies will be knocking down your door to give you the best deal because they want your business.
Paying your bills on time is probably the most important thing you should remember.
A good way to avoid late payment because of poor mail delivery is to pay the bills on the internet.
The payment is usually at the credit card company in three days.
That way late payment fees are avoided.
Remember you have the option of transferring balances from high interest credit cards to your lower interest rate credit cards.
This is the smartest thing you can do if possible.
Just remember to read the fine print so you don't fall into any loop holes.
The most important thing to remember is to use your cards wisely.
If you have cash you should use it.
But no matter what at the least make sure your minimum payment is always made but if you can pay the card entirely off at the end of every month.
If all you do is remember these few simple steps you could avoid hundreds and thousands of dollars in payments that you should never have had to make.
Then this money could stay in your bank account instead of into the credit card companies' bank account.
Dale Mazurek
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