Michigan consumers who want to avoid late fees and other finance charges added to their credit card must avoid late payments. In fact, it may be beneficial for consumers to be aware of all the requirements of their credit card providers. While it is common for card issuers to credit an individual’s account immediately upon receipt of payment, there may be exceptions. It may, therefore, be a good idea to submit payments for credit card debt a few days prior to the due date.
The card provider may require certain conditions to be met by credit card holders in order to have payments reflected in their accounts on the same day. This may include a requirement for submission of the payment by a specific time on the due date. Consumers will generally have until 5 p.m. or close of business on that day. It is advisable to include an identifying account number with the payment to avoid confusion that may lead to a different account being credited.