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Knowledgecash mo info - Make a Late Credit Card Payment (Even One) You lose your reward points

Because the credit card reform law largely ignored rewards programs, it’s one area where credit card issuers can still turn the screws.

American Express changed the fine print on its Blue and Blue Sky cards, for instance, and now, if you accidentally make a late payment, you’ll forfeit all the points you would have accrued during that billing cycle. (You can buy them back for a $29 fee, but that wouldn’t be wise unless you had more than 2,900 points at stake.) If you’re 60 days late on a Discover More card payment, you could watch your accumulated Cash back Bonus vanish along with your excellent credit score.

If you do accidentally miss a payment, call your card issuer to negotiate keeping your points. Then sign up for automatic bill-pay or monthly online reminders so it won’t happen again.

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