Crossing your payment due date

**anthony1** · #1 (**permalink**) 12-19-2006, 08:19 AM

Did you ever delay in paying back your credit card due payments?

Even while paying by credit card, remember that it is you who has to pay this money. If you default, you pay interest that your bank pays you for your hard-earned fixed deposit.

**ankur** · #2 (**permalink**) 12-19-2006, 01:56 PM

this actually happened with me, but i had dropped the cheque of a date before the payment due, so it was alright, other then that i have good reputation with my bank , as i am using the card for more then 1 year, so sort of they would reverse late payment fees for me, bank earns a lot with forex differences.

**gems** · #3 (**permalink**) 12-20-2006, 08:05 AM

people these days possess more than one credit card - when they open their wallets, there is a line of credit cards visible to you. sure it would make the person feel proud but not until the day he receives the monthly statement.

the eye focusses then on the figure of minimum payment due and thats it .

then starts the agony of finance charges, interest and credit shield costs .

80% of the minimum payment that you made is recovered back by bank thru these charges so u ended up paying just about nothing.

it is fine to pay back small but pay on time and avoid these harmful charges.

**ankur** · #4 (**permalink**) 12-20-2006, 08:32 AM

yea i virtualy fall into that trap, but now not gonna take any loans or installments for sometime unless i profit from existing basic amount loan i have taken, , will repay them and look for further funds in future. also i ensure now that i pay the bills right on time for credit cards...

**mirainfo** · #5 (**permalink**) 12-21-2006, 03:57 AM

This is popularly called as rat race

we got to avoid this

**cowboy** · #6 (**permalink**) 06-07-2007, 02:29 AM

not as yet, i have never delayed my credit card payment but always forget my mobile phonw payment

**masden** · #7 (**permalink**) 09-27-2007, 09:47 PM

if you miss a payment but haven't missed any in the past, you can convince the credit card company to waive the late payment fee..

**MelissaMorrison** · #8 (**permalink**) 02-04-2008, 03:51 AM

I try not to be late with my monthly payments

However, it is easy to forget about them

People who have more than two cards often forget about their monthly payments.

**tojona** · #9 (**permalink**) 03-15-2008, 03:47 PM

Quote:

Originally Posted by mirainfo

This is popularly called as rat race

we got to avoid this

More like the face of the rat on the chopping block. Well, there is a solution. Put an end to frivolous spending. Period. Guys, read this article on money management, it may help: prepaidliving.wordpress.com

**mjgiorgianni** · #10 (**permalink**) 05-06-2008, 02:23 PM

Quote:

Originally Posted by tojona

More like the face of the rat on the chopping block. Well, there is a solution. Put an end to frivolous spending. Period. Guys, read this article on money management, it may help: prepaidliving.wordpress.com

I would definitely agree. Once I pay my credit cards off, I'm never getting another one again

I have no control, like the other 80% of the population.