How to Stop late Payment Fees in Credit Card by Runs

Written by admin on March 30th, 2011

How to Stop late Payment Fees in Credit Card by Runs

Like you I have also several times charged by Credit Card companies late payment fee just for barely crossing the specified time given by them for that transaction.

For example if you have purchased today and as per Credit Card Companies minimum free period is 42 days. But the thing is try to find out whether they are allowing the entire day for the last date of free period or just couple of hours and after that they simply charge you Or if you issue the Cheque in the last date i.e. in 42th day and the cheque got 3 days for normal clearing in the bank then Credit Card company is going to charge you late payment fees because now the time is 42+3 days =45 days. But you can simply avoid this just by calculating like this – always minus 3 working days from 42 that means you have 39 free days for payment. And issue the cheque on 39th Day to the Credit Card company so that they may not have any thing left out for charging late payment fees to your hard earned money.

Another Example:

So if your credit card company is giving you 30 days free period then issue them cheque on 27th days and likewise.

Under any circumstances do not let them to cross them the time limit because with late payment fees not only they charge you the amount but also they will charge you relevant service tax or other relevant taxes applicable to the respective country.

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