Yesterday’s post made me think about my own credit cards and due dates. Recently, a credit card that has had the same due date as a similar card over a decade changed for the past couple of months. The due date was switched to a later date for some reason, but now this month it is back to the regular date. I paid the bill when I paid the other, when I was thinking about it. Most of bills are due between the 10th and 15th of the month. Since it wasn’t a problem that the date was later it didn’t affect me, but now, after having a late due date, the payment date has reverted to the former date.

I wasn’t getting caught in a trap because I always check due dates, what if someone was expecting that date to remain the same? Of course there are variations in the due date because of holidays and number of days in the month, but to change the due date by ten days for two consecutive months and then change it back. Seems like a trick to me… pay attention to your due dates.

Also, when paying online, make sure that your payment is accepted and that you know your credit card company’s policy on payments. On its website, my credit card company says that your payment will be credited today if the payment is made before 5 p.m. Mountain Standard Time. Another card site says that payments must be received by noon Eastern Standard Time.

Everything that we have grown accustomed to as credit card users is changing radically because of the number of people defaulting on their bills and because of future legislation that limits fees some of the powers of the credit card companies. Know what your interest rate is, but also be aware of fluctuating due dates. Being late by one day could cost you interest and late fees.