#Monthly bills to pay how to#

You'd have to pay the bill to have service restored and you might be charged a reconnect fee in the process. For example, if you fail to pay your electric or internet bill on time, your service provider could cut you off. Paying certain bills late could result in a suspension of your account. The more often you pay late, the more of your hard-earned money you're likely to hand over in fees.

Aside from potential credit score damage, paying bills late can cost you if you're being hit with fees. (That's a special rate the credit card company can charge if you miss a payment.) Penalty rates can easily approach 30%, making carrying a balance on your card month to month much more expensive. Paying credit card bills late could lead to a higher annual percentage rate (APR) if your card issuer applies a penalty interest rate. Paying late may trigger a penalty APR.A lower score can make it harder to get approved for new loans and lines of credit. Paying on time can help your score, while paying late can cause your score to drop. Payment history accounts for 35% of your FICO credit score. Credit scores are a measure of how responsibly people use credit. There are a few reasons why it's essential to make bill payments on, or before, the due date: Bill due dates are not suggested time frames for paying they're the latest date the biller expects you to pay. The due date should be printed somewhere on the bill. When a biller issues a bill to you, there's usually a due date that you need to pay by.

#Monthly bills to pay how to#

Creating a simple system for how to pay bills each month can save you time and (potentially) money, too. The good news is that handling bill payments doesn't have to be a hassle. Rent or mortgage payments, utility bills, and credit card bills won't just go away, after all.

Paying bills may not be your favorite task, but it's not one you can afford to skip.