100 calls a day did make me get a credit card, and I was unable to stop using it for unnecessary expenses. I really needed suggestions, so I asked my sister how much should you pay on your credit card and her answer really helped me out. We can use our credit cards anytime to borrow funds and pay the dues later, but it is not a good idea. It is better to use credit cards as per your financial situation, so let me share how much you should pay on your credit card.
How much to pay on credit card?My sister suggested I adopt a strategy for managing my credit card finances, and here it is-
Make full credit card payments-Always try to make full credit card payments monthly. This will help you to avoid paying any penalty charges on the balance and you will have no withstanding amount as well. The more time you take to make a payment, the higher amount of interest you have to pay. Also if you pay your bills on time, you can enjoy several offers or benefits like
Lower interest rates for future dues
High credit limits
Availability of overdraft options and many more
There is another method as well:
Make a minimum credit card payment-If you are unable to settle the complete credit card bill at the end of the month, you must make a minimum credit card payment. This will help you from geting trapped under debts. A minimum due on a credit card means 50% to 70% of the availed credit. Paying the minimum due on the credit card will help you keep the interest liability in control and also arrange for the due amount.
In short to answer- how much should you pay on your credit card, my answer will be to pay the full amount or the amount you can afford one at a go.
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Read More:How to pay home loan EMI through credit card?
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How much should you Pay on your Credit Card?
Hetal
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2023-05-18T10:13:54+00:00 2023-05-18T10:57:26+00:00Comment
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