If I made payment by credit card, just after I paid full monthly due. Should i pay interest?

Question

I mean I got my credit card bill. Due is 1000Euro. Date I should pay is 06.11.2006. I paid full amount yesterday. I made another payment just after pay the bill. When should it calculate to the interest?

Answer 1

It depends on the terms of your credit card. If you had no previous balance (or you paid the total balance due last month), and if you have a grace period before interest starts accruing on new purchases, you might not be charged any interest. If, however, you have two-cycle billing, or if you carried a balance from last month, you will likely be charged interest on the daily balance. To avoid or reduce your interest, you should send in another payment for the amount of your new charge immediately.

In the future, you should avoid using your credit card as a loan vehicle. That's expensive short-term money. If you can't pay your full balance every month, you are better off not spending so much, or maybe you should use a credit card. Take control of your economic life. Good luck to you!