Question of the Day (Update): What is #1 reason that people give for paying their credit card bill late?
Answer: 44% Forgot to make the payment
- Why do you think that so many people forget to pay their credit card bill?
- What do you think are some of the consequences of not paying your bill on time?
- What are steps that you can take so you are not one of those "forgetful" people who don't pay their bills on time?
Behind the numbers (WalletHub):
Missing a credit card payment can start a chain reaction of negative events. First off, there are late fees of up to $29 for a first offense and $40 for another within six months. In addition, cardholders not already carrying a balance between months will lose their grace period, and interest will start accruing immediately on both new purchases and the unpaid balance.
Help your students understand the consequences of not paying their credit card bill on-time with this NGPF Fine Print: Credit Card Agreement.
About the Author
After graduating from UCLA with a Master's in Education, Mason spent 5 years as a science educator in a South Los Angeles public high school. He is committed to supporting the holistic growth of all students and empowering them to live a life of relational, academic, and financial success. Now settled in the Bay Area, Mason enjoys facilitating professional developments and partnering with educators as they prepare students for a bright financial future. When Mason is not building curriculum or planning a training, he can be found cycling, trying new foods, and exploring the outdoors.
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