If you’ve counted on those few extra days from time you mail your check and time check clears your bank, beware! Many credit card issuers have switched from traditional method of processing checks to a new electronic process. This new system shaves off a day or more from traditional method it normally takes for your check to clear by electronically debiting your account.

If you’re considering paying your credit card bills online, check to see if any additional fees will be charged for using this type of payment. I recently received an e-mail message from one of my credit card companies announcing how easy it would be to make my payments online. Included in fine print at bottom of e-mail was this note - “A fee of up to $14.95 may be charged for this service and will be deducted from your checking account”. Hmmm, spend 37 cents on postage and mail my payment five days before due date or pay now and get charged an additional $14.95 fee? I’ll bet you can guess which choice I made.

Taking time to carefully read and understand your credit card agreement now will help you save money by avoiding unnecessary fees or climbing interest rates later down road.

Savings account interest rates are on rise. The online bank, ING Direct is currently offering 2.35% APY (annual percentage yield), with no minimum deposit, no fees, and your account is FDIC insured. Visit