With credit card late payment fees now at S$100, it’s more important than ever for Singaporeans to pay their bills on time.
Some banks have billing cycles of 25 days, some banks have 30 days cycles, and some may even have long billing cycles that are more than 40 days. It’s important to know the exact dates when your payments would be due. Let’s say you have three credit cards. If you can activate them such that their billing cycles end on the 22nd, 25th, and 27th of the month, you can make repayments for all of them on the 20th of the month, and be assured that you won’t be late for any of them.
One potential danger of not reading this mail is that you could end up paying recurrent late charges. For example, say you pay a day late, and incur a charge of S$100. 4. Do Not Have More Than 3 Credit Cards at the TimeUnless it’s absolutely necessary, try to keep your total number of credit cards down to three. It’s confusing to keep track of the billing cycles four or five different cards, especially if they are from different banks.
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