Save Your Credit card and Avoid Debt

Save your Credit Card and Avoid Debt


Pay early and pay less! You can save on monthly finance charges if you pay your bill before the grace period begins.

How quickly you can send in your credit card payment will affect your monthly interest charges. In the examples below, sending a payment close to the due date almost doubles the monthly finance charge on your balance.

Make sure You also looks to finance issue too!


Finance charges are the price you pay for using borrowed (the credit grantor's) money. The timing of when your payment reaches the credit card company can have a significant impact on the amount you pay in monthly finance charges.

Your credit card statement indicates the date your account closes each month and reflects any activity on the account as of that date. The greater the balance on the closing date, the more interest is charged on your account. In the period between the closing date and the due date, any credits (payments) and debits (charges) to the account are calculated, and the closing balance is adjusted. Finance charges are added to the balance, along with any fees you may have incurred, such as ATM fees or cash advance fees.

The time between the bill closing date and the due date on the account is referred to as the grace period. The standard grace period is 20 to 25 days. For example, if the bill closing date on your card is the 10th of the month and your payment is due on the 30th of the same month, the grace period is the 20 days between the 10th and the 30th. If you pay the entire balance by the due date, you won't have to pay additional interest for the charges you made during the month. But if you carry a balance on your credit card, there is no grace period and a finance charge is added as soon as the purchase is made

So, i think this one really can help you. But be careful. Many people ignore it because think they can handle it by theirself.