When paying for a monthly credit card bill, what would be better to do...paying the whole thing late? or paying part of last month's bill on time?
2007-12-11 15:32:06 · 5 answers · asked by puffer fish 5 in Business & Finance ➔ Credit
Neither as both attracts interest levied against you. The interest charges are way too high.
2007-12-11 15:39:51 · answer #1 · answered by 360Plans 3 · 1⤊ 0⤋
If you don't pay at least the minimum payment on time it will mean late charges. If you don't pay the entire bill on time it will cost you interest and maybe from the month before too. Some companies average two months. So if you owed say 1,000 for October and paid it during the grace period then didn't pay the entire November bill on time and in full they would charge you interest on the thousand you thought you were using interest free.
Try never to carry a balance it is the worst way to finance anything.
2007-12-11 23:53:56 · answer #2 · answered by shipwreck 7 · 0⤊ 0⤋
Doesn't matter, both are bad.
Both will trigger a late fee (usually $29 and up), both can result in a over limit fee (if you are close to maxed out) and both will result in interest rates of 30-45% for the rest of your life (or until you finally pay it off).
My credit cards are the LAST thing I don't pay. Not worth it.
2007-12-11 23:44:25 · answer #3 · answered by Gem 7 · 1⤊ 1⤋
you have to pay part of the bill or there is going to be a late fee. if you pay late even if you pay in full, you will mess up your credit record.
2007-12-11 23:42:38 · answer #4 · answered by 1682008 2 · 0⤊ 0⤋
OK.
For "Credit" wise, pay partial total on time.
For Less "Interest" wise, pay early to pay less interest and more principle.
2007-12-12 01:24:53 · answer #5 · answered by aloha1782 2 · 0⤊ 0⤋