Making Credit Card Payments

Ever been given this advice "Send at least one dollar to your credit card company. They can't sue you as long as you send something - anything"? Unless your credit card minimum payment is one dollar, this advice is wrong!

If you only make the minimum payment on your credit card, it could take years to pay off the balance. Not even that, you could end up spending hundreds, possibly even thousands, in interest by the time the balance is repaid.

Missing a credit card payment may not seem like a big deal, but it definitely can be. Find out what your creditor does when you miss a credit card payment. Hint: the answer isn't "nothing."

There may come a month when you don't have enough money to make your credit card minimum payment. Find out what you can do to maintain your credit score, interest rate, and relationship with your creditor.

Bringing an account current means you’ve paid off your past due balance and the only payment you’re responsible making is your current minimum payment.

You may occasionally think about putting off your credit card payment for a few days of even a few weeks, especially when you're low on cash. Sometimes even knowing the consequences can convince you to send your credit card payment on time. Think about the benefits of timely credit card payments.

In most cases, all it takes is a phone call to change your credit card due date. If you need to change your credit card due date, call your credit card's customer service.

Credit card payment protection offers some relief from your minimum credit card payments if you become disabled or lose your job. Some credit card issuers offer a cash back bonus if you sign up for payment protection, but is the cost worth the bonus?

Credit cards give you the convenience of paying just a small percentage of your balance each month. This minimum payment is easier to make each month, but can come at a high cost. Here are a few reasons you should pay more than the minimum on your credit card each month.

Paying your full credit card balance is ideal, but when you can't do that, follow these guidelines to decide your monthly credit card payment.