Just imagine: you have just got approved for a long-wanted beneficial credit card with tempting 0% interest rates. The new plastic gives you an excellent opportunity to eliminate your debt sooner or make interest-free purchases and save money. However, there is a large responsibility that comes along with zero interest rates: they last only as long as you are making timely payments. Otherwise, your beneficial credit card deal will be revoked and you will have to pay much more than you have expected. If you want to avoid that costly mistake, consider our tips on how to set timely payments.

The most common reason of late payments and the consequential APR rise is poor budget planning. Financial disorganization can lead to the circumstances you would prefer to avoid. Once a payment is missed, the credit card issuer can and will shift you to a default APR, that can be up to 32%. The reason is simple: paying a credit card bill by the due date each month is a part of the agreement you signed when opening an account. If you fail to make on time payments, it essentially means you have broken that agreement.

Late or missed payments will seriously damage your credit history. If you lose important FICO points, you might not qualify for beneficial 0% or low APR credit cards in future. Potential lenders may believe that you are not able to pay on time even if this is not the case.

If you want to avoid late payments, consider the following tips:

• Sometimes people simply forget to make payments on time. If it is your case, take advantage of an old-fashioned means of tracking. Make a habit of writing due dates on your calendar as well as reminder dates of when to mail out your check. If you are technologically inclined, explore the options for electronic reminders that will alert you 5-10 days before the due date.

• If you used to make late payments due to snail mail, go online. Consider setting up a bill pay service. This will allow you to manage your account online and send out electronic payments on your command. The other convenient payment option is to have the payments automatically deducted from your bank account.
• If your due date falls on a day of the month that is difficult for you, request your credit card issuer to change it. You will have better chances to get your request approved by moving the bill due date forward, rather than back. When it comes to paying credit card bills, every creditor thinks that sooner is always better than later.

• Just because you are on vacation doesn't mean that your bills should not be paid. If you are going away, check your upcoming bills and make any payments that will come due while you are on vacations.
• As you complete each payment, mark down the date, amount, and check number on your billing statement. It will help you in case you will need to reference when the payment was sent.

Responsible money management is the core of your future financial well-being. Exploring the payment options that are right for you can help you build the solid credit history that lenders will definitely notice.