Never Have a Late Fee Again

If you've ever sent a late payment to your credit card company, you know how painful the consequences can be. First, a late payment fee is assessed on your account and added to the existing balance; second, you may well see a permanent increase in the annual interest rate on your card. Plus, depending on a credit card company's policies, your other credit card issuers may increase your interest rate as well. Yes, being late on a single credit card payment can have significant financial consequences.

How to avoid late fees

Fortunately, in the realm of online credit card account management, you have many options to prevent being late in paying your monthly bill. And given the dire consequences of tardy payments, it's worth exploring what services your credit card company offers to make sure you never pay a late fee, or suffer an interest rate hike as a result of a late payment again.

Paying your bill online

The easiest way to avoid late fees is to make your credit card payment online. Unlike snail mail payments that need to arrive at your credit card company at least ten days in advance of the payment due date to guarantee that they'll be posted to your account on time, electronic payments made online usually post the same day you make your payment or within 24 hours. You'll also be able to print proof of your payment for your records if there's ever any question about when and how you paid your bill.

Signing up for payment alerts

Most credit card companies offer their customers the option to sign up for email notifications on their accounts. You can choose to have your credit card company notify you when it's getting close to your monthly payment deadline and telling you how much your minimum payment should be. Upon receiving the email, simply log into your account and pay your bill; in this way, you'll eliminate the possibility of paying a late fee.

Taking advantage of a few simple tools provided by your credit card company will help you make your payments on time, avoid late fees, and build a strong credit history.