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ruthdelacruz | Travel and Lifestyle Blog

Ruth dela Cruz is a travel and lifestyle blogger in the Philippines. She loves writing about her travels. Drop her a note at admin@ruthdelacruz.com. The internet knew her as @ruthilicious.

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July 6, 2010

Always Know Your Billing Due Date to Avoid Finance Charges!

Four months ago, I requested my bank to send me my credit card billing statement through my email address. This way, my mom would not have access to my spending habits. I was thankful that I know my billing due date (always 28th of the month), and I have access to my credit cards online so I have paid my monthly bill on the 27th.

Just this morning I received my Statement of Account through my email which is 7 days after my supposedly due date. Wow, have I not known my billing due date and my monthly credit card charges, I would have then be charged for finance charges/late payments!

I wonder if this how credit card companies make money? Same delayed notice happened when they were still sending the statements at my home address. I had to call the local bank support to inquire about my credit dues and pay for the amount as I was so scared of the 3% finance charge.

Lesson for all. Don't trust your credit card companies. Always monitor your expenses and know your billing due date. Pay on time and in full to avoid those finance charges.