You have always made all your credit card payments on time and in full to get a better interest rate, but your lender is not responding to your request.
Choose a more advantageous credit card type
In this situation, it’s time for Plan B – you can swap your existing credit card for a more favorable credit card. Initially, you may have to pay a little overpay at the expense of credit card reform, but over time this will pay off because you will be subject to generally more favorable terms, such as a lower interest rate. Keep in mind that every credit card change also affects your credit history, which is known to affect your potential credit obligations in the future.
Pay your bills on time
Billing late is actually an unjustified act, but unfortunately, many people do it for a variety of reasons, such as lack of money or organization. It should be remembered that late payment of bills has important consequences, especially if there are regular delays, such as fines or penalties and credit history. The key to the success of this step is the organization – check your mail or email box regularly and keep your invoices in one place with due dates, and pay your bills as quickly as possible or by sticking to a specific, regular schedule.
Pay your bills online online
Nowadays, most banks also offer their own Internet banking, where one of the options is to pay their bills online. If you have a bank account, inquire about the ability to pay your bills online with little or no commission. What do you get from paying bills online? You are sure to save time, energy and money by eliminating the need to go to the post office or bank and buy stamps and envelopes. Undoubtedly, this also protects the environment because you do not use paper to pay your bills. It should be emphasized that paying bills online is also safer.
Set up automatic bill payment
If you are having trouble paying online bills or you simply do not have the time, set the option to pay your bills automatically in your online bank. Not only does this save you time and energy, it also helps you avoid delayed billing. When setting up automatic bill payment, you can set a specific payment date and even an amount. To be safe with this method of paying your bills, apply for your payment confirmation emails from both your bank and your payees, if available. The only inconvenience associated with this method of paying your bills is to keep track of your funds in your bank account to make sure it’s sufficient to cover your bills.
Apply for e-invoices
Nowadays, most companies offer the option to receive a so-called e-invoice in their e-mail rather than by mail. This is also one of the ways not to miss your bills if you look in your email more often than in your inbox. E-invoicing also saves you time and energy because you don’t have to go to your inbox but just open your email. E-invoicing also saves the environment by not wasting paper, as well as your money, as it is known that a certain fee is charged for sending invoices by mail.
Ask your lender for a lower interest rate
If paying your bills involves paying off your credit, ask your creditor about the possibility of getting a lower interest rate that may reduce your bills. If you have been a loyal customer for a considerable period of time, have made credit payments on time and in full and have a good relationship with your lender, you have every chance of getting a lower interest rate.
Pay your credit card bills
This does not seem to be the most popular way to pay your bills, but if done responsibly, it pays off. Many credit cards offer a variety of bonus and reward programs that can be redeemed through the reward program. These tools are not great, but better than nothing.
Pay your bills early
Prepaying your bills may seem odd for most bills, because when you pay your bills, for example, from a savings account, money is spent without letting it rise, but when it comes to paying your credit bills, even recommended because it is known that the sooner the credit is repaid, the better.
Pay your bills more often with additional payments
When it comes to paying your credit bills, again, paying your bills more often is more beneficial because the principal of the loan from which your interest payments are calculated is shrinking faster and faster. Paying off your car leasing, mortgage and credit card bills early is especially advisable and beneficial.
Pay your priority bills
In a tight financial environment, it is very important to rethink the order in which you pay your bills. This is called prioritization. While you are busy paying for your utility bills, for example, you may forget about paying your credit bill. Bills could be prioritized, such as home or rent payments, medical and health expenses, utility bills, food expenses, transportation and fuel costs, car payments, debts, credit card costs, and other minor loan payments. To make it easier for you to pay your many bills, create a payment schedule for them.
Start with paying the most bills
Initially pay the higher interest rates on your credit bills, but only afterwards those with lower interest rates. Experience has shown that such a strategy is not only psychologically easier, but also helps to get rid of your debt more quickly.
Consolidate your loans
Not only is it more beneficial to consolidate several smaller loans into one larger loan, because it reduces the expense associated with multiple interest rates, which are now combined into one interest rate, but also prevents you from forgetting and delaying the payment of a smaller or minor credit.