Statement Dates

ste_coxy

I was wondering do you accrue less interest if you make a payment onto your credit card the day after your statement is issued, for example.

I was just curious as on my Marks & Spencers &More Credit Card it says:

Your estimated interest amounts to £35.55 . Estimated interest is based on an amount which would be payable by you if you paid the minimum amount for this statement period except if you are taking a payment holiday and it reached us on the last day of payment.

Just wondering if that means the sooner you pay to your statement date the less interest you will acrue for that particular month.

Any comments would be appreciated.

CLAPTON

Most (maybe all) cards accrue interest on a daily basis and most but not all credit any payments when made. When this is the case then paying as soon as possible will reduce the interest.
Of course if you pay in full then you don't get charged any interest atall.