Uh-oh! I Forgot to Pay My Credit Card Bill!

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We all have an occasional lapse.  When you miss a payment, it is important to realize that you can negotiate with your credit card company.  If you are like many cardholders, you pay your balance in full each month.  If you miss a payment, the company will charge you a missed payment fee of $25-35 plus interest on your outstanding balance.  That’s the downside of using a credit card and why some consumers dislike them. 

Keep in mind that if you have been paying on time and simply missed the payment due to illness or having been away, you may be able to have the fees and interest waived.  Call the company and explain the situation.  Emphasize that you have been a good customer (length of relationship and payment history) and that the late payment is unusual for you. 

Issuers are generally more flexible with the late fee and will often waive it.  Interest will sometimes be waived depending on the company and the interest rate you are charged.  If the card carries a lower rate, then the company may be less flexible.

If you missed paying Comcast, Verizon, or another utility, the same argument can be made to have any late fees waived.   Remember, it never hurts to make the call and debate the charges if you have been a good customer!

Daily Money Management Services

Surrey provides customized one-on-one assistance with bills, mail, bank statements, tax information , budgeting , insurance paperwork and government forms.  The Daily Money Manger can determine your eligibility and apply for government benefits for seniors and review and advise you on household utility services.

If you are feeling overwhelmed by paperwork, call Jacky at 610-647-9840.
 

Jacky Kennedy Sisson
Daily Money Manager