I received my Chase MasterCard bill in the mail today. I am one of those people that review the charges line by line, the interest rate and my reward miles. I must have been bored, because I really analyzed the bill and all of the new disclosures the bank has to include now.

One really caught my eye. Although I knew about this new rule, I wanted to point out how to avoid any extra charges or increases in interest rates.  This is what it says:

Late Payment Warning: If we do not receive your minimum payment by the date listed above, you may have to pay up to a $39.00 late fee and your APR will be subject to increase to a maximum penalty of 29.99%.

This means that if I am one day late with my payment, they will charge me 39 bucks and probably have the ability to increase my rate to wow 29%. That would be horrible. Any excuses for late payments, (such as the dog ate my bills, I left my briefcase on the bus or we were away for a month and did receive our mail) will not stop them from hitting you both ways. So, what to do to avoid this happening?

Apply for the AutoPayment feature on all of your credit cards. AutoPayment is very simple; it allows you to have your credit card payment taken out of your checking account each month on the due date, business also use different kind of payment services from sites as cloudpay.net that really help the clients making their payments in an easy way. They give you choices, such as minimum payment, monthly charges or total balance. It is easy to do online, and takes a month or two to go into effect.  Also, note that if the online feature is not available, you might need to send down a voided check. Anyway you have to, go AutoPayment, it will not fail you. Never a late payment shall you have!