Finance Credit

Discover 8 Tips For Payments Credit

Published at 03/29/2012 22:24:00


Making credit payments on time helps to give you a good credit score. Falling behind on credit payments is a fast way to make your credit score drop. Not making credit payments on time will also result in higher payments the next month and additional interest charges. You should get into the habit of ensuring that each credit payment is made on time each and every month.

Step 1

Set up reminders about when each credit payment is due. You can do this on your cell phone, your online calender or the calendar hanging on your wall at home. The important thing is to be sure it is a calendar that you will see each day. For this reason email or text messages work well. Set the reminders to be sent a day before pay day. This way you will know which credit payments have to be sent in when you get paid that week.

Step 2

If you mail in your credit payments, rather than pay online or over the phone, be sure you give yourself plenty of time. You do not want to wait to mail your credit payments in at the last minute. Even an online payment can take a couple of days to process. Sending payments in through the regular mail will take even longer. Give your mail time to get there and be processed before the actual due date.

Step 3

Pay more than your minimum credit payments each month. By paying more you reduce your balance more quickly. You also end up paying less interest by paying down the balance faster. Even if it is only a few dollars more that you pay each  month, it adds up over time and can save you money.

Step 4

If you are going to be late on credit payments, call your creditor. You are better off calling and letting them know that you will be late and also when they can expect their payment.

Step 5

If you are late on credit payments one month, be sure to pay extra the next month. This will help get the balance down which you will want to do to lower the amount of interest you will be paying.

Step 6

Keep accurate records of your credit payments. This will prevent any issues such as you forgetting to make a payment, or even the creditor not crediting you with a payment that you did make. The better your records, the easier it will be to prove if an error does occur.

Step 7

Try to make extra credit payments to your cards with higher interest rates. If you cannot pay extra on all of your credit payments, just pay extra on the ones with the highest interest rate. Getting those paid off as quickly as possible makes sense. It will save you a lot of money in the long run.

Step 8

When making purchases using credit, be sure to remind yourself that you will be making credit payments on that purchase. Buying on credit may seem like a good idea at the time, but it is important to remember that you will be paying the price for that item and more soon.


Use credit wisely in order to keep your credit payments from becoming overwhelming.


Sources and Citations



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