More and more, credit cards are becoming a necessity. But, they can be hard to manage. The key to successfully managing your credit lies in your ability to avoid late credit card payments. Late payments can result in high late fees and a possible increase in the amount of interest on your unpaid balance. To avoid this, make sure you mail your payment a week to ten days before the payment is due. Or, better yet, pay your bills online using services like BestBank’s Preferred BillPay feature. Missing payments and late fees can end up costing you a lot of money. It can also damage your credit rating. Your credit rating is determined by your credit history including late payments, overdrafts and/or balance transfers. As your credit rating goes down, so does your likelihood of receiving additional credit and favorable interest rates from other credit card companies. So, remember… late payments have a much bigger impact than a simple one-time fee. This Money Minute brought to you by BestBank. Visit one of our convenient Kroger locations with extended hours, including Sundays. Or, visit us online at www.BestBank.com. BestBank. You're busy. Bank easy. Member FDIC.
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