6 Benefits If Credit Card Bill Pay On Time

Sometimes you may think to defer credit card payments for a few days or a few weeks, especially when you have a little cash. If you do not know the consequences of doing credit card payments on time. Read more about the benefits of credit card payments on time is:

1. Your credit card account is beyond the billing section.
The credit card issuer will transfer the bill to debt collection agencies when customers do not pay their credit cards on time. Even the smallest credit card bills can be sent to a collection agency if not paid for several months.

2. Enjoy a lower interest rate.
Credit card issuers are allowed to raise the interest rate if your credit card more than 60 days late paying a credit card bill. Credit card penalty interest rate generally is 30%. Keep paying your credit cards on time to avoid paying a higher interest rate.
Benefits of Credit Cards with Low Interest Rates

3. Avoid late fees / late charge.
Credit card issuers charge late when your credit card payment late. Avoid late fees are relatively expensive (between Rp.60 thousand to Rp.150 thousand) to make timely payments.

4. Improve your credit score.
Thirty-five percent (35%) of the credit score you based on how your credit card payments are made on time. You will get a good credit score points if you consistently pay your credit card (and other payments) on time.

5. Keeping your monthly payments remain low.
When you are late making a credit card payment, your next minimum payment will more than double. This is because the credit card payment in the next month will include twice the minimum payment plus late fees. If you have any difficulty in paying your credit card, do not put it off would make things easier.

6. Your credit card will remain in good standing.
You risk having a situation where the bank to cancel your credit card if you miss a credit card payment. When this happens, it can hurt your credit score. Keep doing credit card payments on time so that your credit card account remains open and in good standing.

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