Taking care of your company’s finances can be difficult enough without having to worry about expensive credit card late fees that might be associated with your company. Many different credit card companies are fairly aggressive when it comes to charging late fees. In fact, most late fees that are associated with a business credit card are a little excessive. Most credit card companies charge larger late fees in order to get customers to make their payments earlier than the due date. Although it may seem like a hassle to try to handle a business credit card, there are ways for men and women with merchant accounts to get rid of all of the fees that are on the credit card processing bills.
Knowing the Due Date
In order to ensure that your company’s credit card processing goes over smoothly, it is important for you to remember when your credit card bill is due. It might be a good idea for you to put a reminder of your due date in a daily planner, on a calendar, in your checkbook or on the computer monitor in your office. It might even be a good idea for you to install a type of bill reminder software. This can help you manage your merchant accounts and features automatic reminders of all of your bills every month.
Knowing your due date also means you will have to check your bill every time it arrives in the mail. There are times when a company will move the due date to an earlier date than in the previous months. If you always make your payment on the same day without checking your bill, you might be charged a late fee on your company credit card.
Making Payments on Your Company Credit Card
You can avoid company credit card late fees by paying your bills before they are even due. This is especially the case if you happen to be paying your bills by mail. You might have to deal with a late fee if the mail has been delayed.
You might want to consider paying your credit card bill automatically. The credit card company will deduct the amount that is owed automatically each month in order to avoid late fees. In order to do this, you will need to provide your checking account number, your routing number and the name of your bank. You can always make extra payments in order to lower the principal if you like.