Table of contents
Chapter 1: Match card and lifestyle
Chapter 2: Credit reports and scores
Chapter 3: Costs and fees
Chapter 4: Managing your cards
Chapter 5: Using credit wisely
Chapter 6: Special-need card users
Being late is going to cost you, big time.
With credit card late fees at $39, this is no time to be the least bit tardy with your card payment.
When it comes to processing credit card payments, all these little details are incredibly important.
Payment guidelines may include everything from a specific payment address to the time of day by which the payment must be received to be credited that day. Many issuers also stipulate that payments must arrive in the preprinted envelope sent to the customer.
While the Fair Credit Billing Act requires issuers to credit payments the day they are received, each issuer is allowed to set specific payment guidelines. If any of the guidelines are not met, the issuer can take as many as five days to credit the payment.
An on-time payment could easily become "late" during that five-day period, so follow those payment guidelines carefully.
To ensure your payment gets credited immediately:
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A little research could save you BIG on interest.