How much money should I pay my credit card so my balance won't go up?

Question

If I stop using my credit card, what percentage should I pay so my balance won't go up?

Answer 1

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http://credit-cards.ebookorama.com
http://finance.ebookorama.com
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
if you get any luck please don't forget about me lol, hope it helped you!

Answer 2

You should definitely pay more than the minimum. To keep the balance from going up, you must pay at least the amount of the finance (interest) charge each month. It's best to pay more than that. If you're strapped for cash, I suggest budgeting to pay the finance charge plus a fixed amount, whatever you feel you can afford.

You would be surprised how much of a difference it makes when you pay a bit more compared to the minimum. It can take years off the length of time it takes to repay the balance.

There are many online calculators to help you figure this out. See the Sources box for a page that has links to several good ones.

Answer 3

any balance that sits on your credit card after 28 days gathers interest and depending on what your APR is the higher your balance is. the best recommendation I have for you is to use your card.. pay off your balance b4 that 28 days and you won't gather interest which in turn makes that balance go up.. Always try to make your minium payment which is usually 3% of the balance or a little more of your min payment.. payments are divided by three to pay off the three buckets that is on a credit card Purchases, Cash Advance and Special (which is for balance transfers mostly). Now the special is paid first because it has the lowest APR normally

Answer 4

You should pay the minimum fee plus whatever the finance charge is if you don't want the balance to change. I'd suggest paying more than that if possible.

Answer 5

With alot of cards just paying the minimum will take 19 years to pay off. Yikes. Try to pay at least twice that.

Answer 6

Make the normal payment, plus the interest for the following month. If your payment is $25 and you see on your statement that you were charged $5.71 in interest, next month you pay $30.71 and continue to do that until paid. Or you could send $40 or whatever your finances allow.

Answer 7

You should pay as much as you can afford. Every day you carry a balance you are losing money.

Answer 8

It relies upon. AmEx and hit upon make funds on expenditures that provider provider will pay them. With Visa and draw close Card that's diverse - banks make funds off interest, Visa and draw close Card businesses get provider provider expenditures. So banks are literally not making earnings case you pay your stability in finished, yet do not difficulty - they are going to make diverse funds off others who do. Paying your stability in finished is the in simple terms excellent thanks to apply the playing cards. or you pay too a lot in interest. "yet you ought to be conscious that paying the ballance in finished even as saving you any interest expenditures does not help your credit status that a lot. " it truly is genuinely and fully incorrect. that's so a lot more beneficial valuable on your score than protecting a stability. One area of the credit status is utilization - the decrease the more beneficial valuable. credit playing cards rfile your typical stability which, in case you pay in finished, in simple terms comprise the present month' purchases. in addition they rfile your credit line i.e. the quantity of accessible credit. in view that your stability is low, on the brink of 0, than the ratio of debt to accessible stability is low. It also says "will pay as agreed", even once you've 0 stability, so that you get good credit both because you pay on time and in view that your utilization fee is low. For the list - i have continually paid my stability in finished, for 20+ years, and that i have continually had staggering credit. I also examine my credit rfile usually, so i recognize what it says.

Answer 9

The minimum payment ensures that your balance doesn't go up-- but if you are overlimit and your minimum payment didn't go up, pay the mininum payment PLUS 100% of what you are over limit by.

Answer 10

You need to pay as much as possible! If you only pay the minimum , it will take YEARS to pay the card off.

Answer 11

minimum payment plus $10 and get rid of the card.