(979) 324.8179
Location
Contact
Menu
Tracy Stewart, CPA
  • (979) 324-8179
  • (979) 324-8179
  • Location
  • Contact
  • Menu

Tracy Stewart, CPA

Just another WordPress site

  • (979) 324-8179
  • (979) 324-8179
  • Location
  • Contact
  • Menu

Peace of mind through financial clarity.

Paying your credit cards on time

August 17, 2017 by Tracy Leave a Comment

This may seem obvious, but making your credit card payments on time is very important. It’s not just about the late fees, either.

In today’s episode of Your Money Minute with Tracy Stewart, CPA, I want to talk with you about why it’s important to pay your credit cards on time. Late fees can really sting — often charging you a penalty and voiding out any promotional perks you have with your account (like no minimum payments or no or low interest rates.) But your late payments can also trigger other ouches and owwies, too.

Say, for example, you pay your MasterCard account on time, but fudge the payment on your Visa by a few days. It’s a known fact that MasterCard may raise your interest rate because you had a late payment on another account. How did they know? Easy — they monitor your credit report.

While we’re talking about your credit report… I’ve also heard more than a time or two that, if you make your payment between the 1st and the 15th (even if it’s a minimum payment,) it can help give you a bump on your credit score.

To make sure you pay on time, consider using auto-payment options using your checking account. Spare the stamps and avoid missing payments: Auto-payments will make sure your accounts are paid on time, every time.

For more advice on money and life, make sure to subscribe to my YouTube channel. Catch the latest episodes of Your Money Minute each and every weekday.

Filed Under: your money minute

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Contact Tracy

Thanks for all the help, advice and encouragement. It's a real pleasure learning from an informed, honest and caring person. I sleep so much better at night. Thank you for everything!
L.B.

Our Location

Rate, Review and Explore

  • Google
  • LinkedIn
  • YouTube

©2023 Tracy Stewart CPA, PLLC · Site by Hero House Creative

Contact Tracy Stewart CPA

More contact info

Menu
  • (979) 324-8179
  • Home
  • About Tracy
  • Elder Financial Planning
  • Divorce Finance
  • Financial Forensics
  • Articles and Resources
  • Blog

Location and Hours

Open Today 8:00am - 5:00pm