Credit card payments?

Question

Okay...this is a bit of an odd question. Sometimes I make my credit card payments for the next month, as soon as the bill becomes available on the previous month. So, say...the e-bill (I pay all of my bills online) might be available on the 20th or 25th of April showing the payment for the next month, but is not "due" until like May 10th or 15th. I like to go ahead and pay them ahead of time for the next month, using that e-bill indicating next month's payment on it (and not just a payment just through 'pay card' option). After I pay it, of course the 'amount due' usually drops down to $0 and it just kind of sits there and waits until the said payment date for the statement to come out several days after the due date. I don't know why I'm asking on here. I'm guess I'm just looking for a little reassurance that I'm not doing something odd to confuse the company or something, though their computers take care of it. Is this a good practice? Is it better to do than waiting for that month?

Answer 1

i do it also. It is a good habit to get into. Less interest to pay.

Answer 2

you can pay the debt on the due date or a day before. an advnatage is that you earn some interest on your savings account on the end of every month, so you may be missing the opportunity of adding some interest dollars on your savings account.

also, you may need that money right away, and since you have already used it to make an advanced payment on your credit card, then that money might be unavailable.

the computers don't get confused, but you want to hold on to YOUR money as loooong as you can!

the credit card company won't do anything special to you for early payments anyway!

Answer 3

Yes. Although I don't trust the E-payment, but I pay them as soon as they're due, and avoid paying interest and late fees. Those are killers.