Is Your Credit Card Due Date Inconvenient?
Have you ever had the feeling that every single monthly bill is due at the same time of the month? It is actually quite common to see the majority of your bills due in the beginning of the month, including big-ticket items such as mortgage payments, car payments, insurance premiums and credit card bills.
This can make it difficult to cover all of the bills, particularly if you are still in the process of creating a monthly spending plan. Wouldn’t it be a little more convenient if your bills were spread out a little more so the month was more balanced?
Good news, some credit card companies will allow you to change the due date on your bill. If you have visited My New Choice in the past, you will know that all you need to do is call the customer service number for each creditor and ask. Unfortunately, even when you ask nicely not all companies will be willing to switch your due date.
For the creditors that will switch your due date, be sure to continue paying your bill as originally scheduled. The changes may take one or two billing cycles to take effect, so do not think this strategy will allow you to buy some additional time if cash is short this month. If you miss a payment, you will face the possibility of late payment fees and an increased interest rate, which is the last thing you need when trying to balance out your monthly expenses.
As mentioned earlier, each credit card company will be slightly different. Some will not allow you to change at all while some will allow you to pick any date that works the best for you. But you will not know until you call, so go get the phone and make that phone call. Just be sure to come back here to let us know how it worked out!