According to a recent survey from Citi, 59% of Americans admit that they have paid at least one bill late in their lifetime. Of those people, 88% said they have been late on a bill within the past 12 months. If you're worried about not keeping up with your bills, you know you're not alone.
The survey revealed nearly 44% of people miss the due dates for their cell phone bills. It also showed that people most often miss a payment because they forgot about it or they had other obligations that got in the way. The majority of participants stated that they have asked their credit card companies to waive late fees that resulted from missed payments, often staying on the phone for more than 10 minutes before speaking to a representative.
This data about late payments is one reason why Citi developed the Simplicity credit card.
The Citi Simplicity Card was first introduced in 2011, giving users the opportunity to take care of their other finances without having to worry about extensive fees on their credit cards. Citi does not charge a late fee, a penalty rate or an annual fees on this Simplicity card. Citi also boasts the ability to quickly take care of their customers, providing live customer service assistance at all times.
"Americans are increasingly leading hectic, busy lives and are in need of flexible solutions to help them better manage their credit card so they can avoid late fees. By completely removing late fees and a penalty rate from the equation, Citi Simplicity is saving cardmembers time and money," said Citi Managing Director Anthony Merola.