Entries about credit card applications
* Be punctual about paying your credit card bill, down to the hour. If your check or electronic transfer arrives at the credit card company even a day late (or, for some cards, an hour late), you'll be hit with a late fee of $35 to $40. The company can also hike up your interest rate to your default rate, a leap of ten percentage points or more, on the grounds that your lateness shows you can't afford to pay your bills and you are a poor credit risk. It doesn't matter that you have plenty of money in the bank and just forgot to put the check in the mail because of midterms. The fine print on the back of the agreement you signed with the company gives the company permission to do it, and they'll take advantage of it.