The due date on your credit card is a deadline, not a guideline.
I’m Adam Levin and this is the Wall Street Journal credit minute.
The first rule of credit is to always make timely payments, since this is the biggest factor affecting your credit scores.
Here’s what happens when you pay late:
If you’re the forgetful type, consider setting up automatic notifications either by text or email or automatic debits from your bank. And every once and a while, you may be able to call your credit card issuer and get a late payment fee waived.
While paying on time isn’t the only factor creditors look at when considering you for a loan, it is a big one.
I’m Adam Levin. Come visit us at Credit.com and learn how to take control of your credit.