Credit Card Quick

Surefire Ways to Beat Late Credit Card Payments Once and for All

Credit Card Debt

With the tough economy and equally tough credit sector, we all need to stay on our toes and pay our debts to maintain our credit rating. With that said, it is now more important than ever to pay our credit card bills on time each and every month.

Failing to pay your credit card on time can result in quite a negative impact on your credit score, and can certainly result in raised interest rates, late fees and your inability to obtain credit.

Luckily, we have technology on our side – namely, the Internet, to make sure that our payments are received on time, without fail.

Online Bill Payment

Online bill payment enables us to say good-bye to snail mail, once and for all! No more stamps; no more trips to the post office; and no more delays. The Internet has instead enabled us to pay our monthly bills in a matter of minutes, without the hassle of paper bills and checks.

Whether you decide to pay your credit card bill through your bank or directly through the credit card company’s web site, you will enjoy the convenience of a quick payment. In fact, most payments are posted within two or three business days.

Automatic Bill Payment

Better yet, if you want to ensure that your payment is received on time, consider automatic bill payment. Simply set up the date each month that you want your credit card bill to be paid and – voila! –no more missed payments!

Of course, automatic bill payment is ideal for card holders who pay the same amount to their credit card bill each month, although it is also convenient for business travelers that may not be home to receive their credit card statement every month. Another great feature of many credit card companies is that they can send you an e-bill instead of a paper bill, thereby enabling you to receive your monthly credit card statement regardless of where you are.

There is simply no reason not to pay your credit card bill on time each month. With today’s user-friendly technology, it is quite effortless to set up an online account, either through your bank or credit card website, so that you can take care of your monthly obligations anytime, anywhere.

Should I Help my Child Establish Credit?

Credit Score Introduction

We all want to give our children the best start in life as possible, so it only makes sense that some parents want to help their children establish credit. While in general this is a good idea, as it enables your child to begin establishing a positive credit history while still in college, it may also prove to be detrimental to your relationship should your child default on his/her credit obligations.

The bottom line is that, because each child is different, and certainly every situation is different, you must look at all the factors before considering whether to help your child with their credit. For example, you may want to ask yourself the following questions:

• Do I feel like my child is responsible?
• Does my child have the means to pay off his/her debts that they incur (i.e., does your child have a steady source of income)?
• Has my child displayed responsible traits over the past couple years?
• How has my child handled money in the past?
• Have I taught my child about the importance of good credit?

If you answered “no” to any of these questions, you may want to reconsider handing over financial responsibilities to your child. If, however, you feel that your child is responsible enough to properly handle a credit card or other type of installment loan, then you may want to consider using your good credit to help your child establish his/her own credit.

You can accomplish this in one or two ways. First, you can put your child on your credit card as an authorized signer, or add your child to your credit card account as a co-applicant (provided, of course, he/she is at least 18 years old); both of which will help your child establish the credit necessary to begin building a positive credit history.

You may also want to act as a co-signer for a car loan. It is important to remember, however, that if your child defaults on the loan you, the parent, will be responsible for paying the debt or else your credit rating could be in jeopardy.

Both of the above mentioned options require a certain degree of faith and trust in your child, so always proceed with caution when putting your credit rating on the line.