Ask Terry Questions credit cards — interest on balance

credit cards — interest on balance

By Terry Savage on August 12, 2018 | Credit/Debt

When you pay credit card payment early instead of waiting for the payment date making sure they receive the money well in advance does that reduce the interest payment?

Terry Says

If you’re carrying a balance, likely not. But I must admit I don’t know the answer to that question specifically, and I suspect that it depends on how/when the card company closes its books on your account every month — which may not be the day the bill is sent. Why don’t you just pay off the balance and never worry about that question again!



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