It is common for people to lose track of credit card due dates. However, the negative implications of such an error can be from paying penalties for late payment to a drop in your credit score. So, what potential remedies do you have that guarantee that you do not face such circumstances? Here’s how to make your credit card payment a breeze.
Effective Credit Card Payment Strategies
Here are some basic strategies for paying your credit card bills on schedule and without fail every time.
- Change Your Due Date
If you’re having trouble making your credit card timely payments because the due date doesn’t correspond with the date of your paycheque, you may change your billing cycle and your due date effortlessly. Most credit card issuers are flexible and allow you to make such revisions. All you have to do is log in to your account and update the date yourself. Alternatively, you may contact the issuer. This way, you will never forget the timely payments of your credit card bills.
- Set up Alert Notifications
When you apply for a credit card online, your plastic card issuer will provide you with the choice of receiving alerts in the form of e-mail or text messages on your phone before the due date. If you have not already signed up for the service, you may log in to your account and click on the feature to get notifications in the future. This method ensures your payment date is at your fingertips.
- Consider Autopay
One strategy to avoid late fee penalties on credit card dues is to enrol in a bank’s automated payment service. In this manner, your card bill amount may be deducted automatically from your bank account on a specific date without you having to worry about them. However, you need to give your consent and signup for the autopay feature.
This strategy is especially beneficial for salaried account holders, whose fixed-income is credited every month on a particular date for automated card payments. However, it is critical to inspect your plastic card payment statements when using the autopay service and challenge incorrect charges incurred, if any.
- Frequently Check Your Account
If the autopay feature is not for you, make it a practice to check your account often. The due date of a card payment is usually explicitly displayed on the screen. This will assist you in recalling the payment due date.
- Mention it On the Calendar
This is another manual method for not missing your payment. To help you remember, mark the due date on a calendar. You may also use an electronic/online calendar to add the date.
Credit cards have simplified our lives by allowing us to access funds whenever we need them. This increases our convenience and gives us excellent savings and cashback incentives on our purchases. However, it is critical not to get carried away and engage in risky financial behaviour. Furthermore, while applying for a credit card, it is crucial to enable the alert or autopay feature, which will assist you in paying your card payments on time.