Even paying a single Credit Card bill late can mean quite some damage to your credit score. Here are tips on how to avoid the disaster.

* If you have a fairly large credit balance, make sure it's at a low fixed rate -- with no universal default risk tucked away in the fine print.
* Monitor your accounts carefully and examine each bill when it arrives to check its due date.
* If you decide to dispute a bill, act promptly to work it out with the lender. Don't wait until your account is sent to a collection agency.
* Keep accurate lists of your credit cards, balances, limits, interest rate and payment due dates.
* Contact the credit card company and ask to have your due date changed so that it falls at a convenient time of the month.
* Consider paying bills when they arrive instead of when due.
* Consider paying your bills automatically and electronically each month, either by computer or through a banking arrangement. [But watch out for hidden fees that can cause low interest rates to soar]

You should always shop for your credit the way you shop for any major purchase:

* Research all your options.
* Weigh the costs and benefits.
* Read all of the fine print. Never forget that when you sign up for a credit card, you are entering a legally binding agreement.

You can head off any problems simply by meeting all your monthly obligations not just on time, but at least a week or more ahead of the payment due date. Some counselors advise getting into the habit of paying bills when you receive them.

Fixing the problem to prevent it from recurring is not so easy. Once a negative hits a credit report, the damage is done.

To get it removed, a consumer must convince the creditor the problems lies elsewhere and that the consumer is not at fault for a payment being recorded as late. Usually consumers lose this argument, unless they send their payments certified mail and can actually track the date of receipt.

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