2005-03-10 / Business & Finance

Protecting Your Credit With Online Bill Pay

(NAPSA)-Better a late fee than never, but no late fee at all is better still. Unfortunately, traveling and busy schedules often lead to unpaid bills and credit woes. A recent study showed that one in five travelers were hit with late fees for unpaid bills while they were away from home; another 20 percent said their consumer credit rating was negatively impacted because of late payment.

The survey conducted by Wells Fargo & Company of 2,200 random U.S. adults also found:

• 22 percent had a delayed payment because they were too busy

• A quarter overlooked an important statement amidst all the “junk” mail in the mailbox

• Nearly a third of all people simply forgot to make a household payment

• In addition, 13 percent had their services or standing with a biller negatively impacted because of a late payment.

Managing your finances online is an excellent way to get greater control over your expenditures, especially when you’re away from home. “Using on-line bill pay can turn a three-hour chore into a 15-minute task as simple as checking off a ‘to-do’ list,” say experts at Wells Fargo.

Interestingly, experts also report that the average American household spends two to four hours every month paying bills. Switching to an online bill payment service can decrease the time you spend on bills by 60 percent. In fact, it’s now estimated that by the year 2008, more than 68 million house-holds will pay most of their monthly bills online.

For more information about banking online, go to www.wellsfargo.com.

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