Who Says Credit Card Companies Are Heartless?

If you hate extortion-level late fees and interest on credit card balances the way I do, you probably pay off your balance each month. Occasionally, an overly exuberant schedule or a senior moment can lead to a late credit card payment. Then, you might get a phone call from your credit card company or simply receive the next month's statement with ridiculously high penalties. If you usually do a good job of managing your credit cards, there's an excellent chance you won't have to pay those fees--even if you run a balance.

When your credit card company charges a late fee and interest, don't be afraid to call them and ask them to remove those charges. Customer service reps check your payment record and, if it shows regular on-time payments, tell you that they will remove the charges. That's it! Each company has different policies, but a year's worth of on-time payments is usually enough to qualify for this leniency.

Even if you keep a balance on your credit card, you can sometimes get penalties lifted. For example, if you pay on time and repay more than the minimum, the company might remove additional penalties if you miss a payment one month.

Same goes for bounced check fees. If a checkbook arithmetic error leads to the wrong balance and a bounced check or two, call your bank and ask them to remove those fees. Once again, your record has to show that you don't regularly bounce checks. With a dependable banking record, customer service reps usually remove those fees without a fuss. However, you might still get dinged for the bounced check fees charged by your payees' banks.