How often do you pay your Credit Card in Full?
Are you the type of person who uses a credit card and pays the balance in full? Or do you run up a balance, pay the minimum, and hope that things get better over the long haul? It is important that you know exactly what you are doing, no matter what it may be.
From the start, everybody should know that paying their credit card in full is the best idea. The reason for this is simple: you will not have to pay any interest on your balance. The more you pay in finance charges the worse you are going to feel about the purchase(s) you made.
Those who do not pay their credit card balance in full usually don’t stop to think about this when they are making a purchase. Only you know how much money you can afford to put towards your balance. If you purchase more than this, expect to carry money over from one month to the next. And along with this, you can also expect to pay finance charges.
It would be great to say that you pay your credit card in full every time a statement arrives in your mailbox or inbox. The question is: do you really live this way? If you can get in the habit of paying in full you will be ahead of the game. But begin to let this slide from time to time and you will find yourself paying more than you have to.
If possible, only make purchases on your credit card that you know you can pay for in full when the statement arrives.
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- Credit Card Basics: How to Read Your Credit Card Statement
- Carrying a Credit Card Balance Won’t Improve Your Credit Score
