"Credit card companies usually set small-dollar minimum payments, so there’s really no excuse for incurring fees for late card payments."
"Yet many consumers fail to pay on time. In a new study, British researchers found a no-brainer solution that is highly effective: setting up automatic payments of our credit cards."
"The researchers started out with a different premise: that customers
might learn, over time, to prevent maddening late fees after having to
pay them numerous times. The researchers roundly rejected this after
following nearly 250,000 U.K. credit card holders over two years. When
it comes to late fees, we do not learn from our mistakes."
"What they noticed, however, was a clear distinction between card
holders who incur late fees regularly and those who don’t or who stopped
incurring the fees. Setting up autopay 'all but eliminates the
likelihood of future [late] fees,' while the probability remains
“persistently high” (about one in five) among people who did not, they
It's a no-brainer. Set up autopay for your credit cards!
Thanks to the Squared Away Blog: http://squaredawayblog.bc.edu/squared-away/autopay-ends-credit-card-late-fees/