3. Beware of the shortening grace period.
It used to be that banks had grace periods of 30 days, which means you won’t get charged interest for 30 days.
However, these days, bank floats are getting shorter. Floats for bank cards are shrinking to 25 days or less.
So to avoid paying interest on shorter floats, make sure to pay your credit card bills on time or even a week before the due date.
2. Late payments can be waived.
Late payment fees are not fixed in stone, provided you do not do this very often.
On instances wherein you, for some bone-headed reason, forgot to pay your card on time or missed the bill in the mail, go ahead and try this …
… Call your credit card issuer and ask them nicely if they can waive the late payment.
Be really nice, polite, and tell them you’ve been a good customer.
Then ask to have your late fee waived.
You might end up lucky.
1. From annual fee to no-fee card … yes, it’s possible.
If you have a card that has an annual fee and you have been a really good customer, paying your bills on time, and have been with the bank issuer for a good number of years, try this.
Give them a call and ask if you can convert your card to one without any fees.
Sometimes they’ll say it’s not possible.
However, chances are they might oblige.
You just have to try and ask.
Try it. It’s worth a shot. 💰