Serge M
 |
Paying your bill on time is important in maintaining a good credit rating. However, it seems that by "on time" you mean as soon as you get the bill. Paying on time means paying by the due date, whether it is a credit card bill or an invoice with specified payment terms.
Assuming that your money is earning interest, if only a small amount in your checking account, you are best off paying your bill on the due date. That is paying on time and also taking advantage of any interest your money can earn up to the due date. That's simply good money management. |
|
pepzi_bandit
 |
paid by direct debit |
|
nitty b
|
I pay at the very last second, but one argument against your friend's idea (and my practice) is that if you MISS that final deadline, the late fees crush any miniscule interest you would have made from paying at the last minute. |
|
arry2002uk
|
It is better to pay on time and your friend is just trying to be petty with the system I think! Remember every late payment goes badly on your credit rating which can affect many things; such as renting privately, getting a loan or getting a credit card. |
|
Deliah
|
"Someone" is an idiot. Many times that "final reminder" has a 5-10 percent fee that you have already incurred because you did not pay by the due date. |
|
foxylady
|
I always pay on time, then your credit will be better. |
|
Peanut
|
I always pay mine on time-most of them are by direct debit anyway. |
|
loopy loo
|
i got no choice, i have set up direct debits, but prefer it that way, as i no longer have to worry about paying on time, just the catalogues i pay as they come in, usually leave it until the day its due, and then pay on line, or over the phone |
|
K B
 |
I always pay on time. The peace of mind is worth more to me than a few pennies interest. |
|
kiki
|
I try to pay on time, but sometimes it seems as if we have alot of things due on one paycheck so I will let it wait until the next paycheck until I pay it. They can just deal with it, I got to feed my kids.........
and since my hubby is military he only gets paid twice a month and sometimes it's hard when it's a long month. |
|
andri_uk
|
I always pay mine on time. |
|
KathyS
 |
Most bills that are final notice or late reminders have late fees attached to them. I either use direct debit if I can or I pay a bill as soon as I open it. |
|
jimmy-boy
|
It will drastically reduce his credit rating as it will be logged and they will look like a bad payer |
|
sweet75
|
Personally I'd rather pay on time than have a black mark on my credit rating. |
|
Baby girl
 |
Im useless at paying bills- i have such good intentions then end up leaving it to the last min or being late |
|
spick&span
|
Mathematically your friend is right. You may gain a few cents/pence waiting til the last day.
But it looks good to pay as early as possible. |
|
dolly_shake
|
yessssss |
|
slinkyred1
|
It's better to pay on time as you get a better credit rating. |
|
CSND
 |
ok well if you do pay on time then you might not receive as much interest from your bank account, but that is only if you pay from an interest bearing savings account or a checking account that gets interest which is rare since most people have free checking that does not pay interest. This small amount of interest that you would receive does not outweigh the fact that if you do not pay your bills on time then you more than likely will be hit with a late payment fee, and sometimes a hit on your credit. The bottom line is pay your bills on time and you will develop better credit which will save you money in the long run |
|
Little Miss Opps ♥
|
i pay on time |
|
ockashgirl
|
i always pay on time i worry about it otherwise or its direct debit anyway |
|
flo-pickle
|
not all the time |
|
| |
|
Homepage 
Financial
Forum 
Personal Finance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
