Credit Card Payments

markiepat

Hello,
Is there any benefit in paying credit cards before the due date, ie do you save any interest or are you as well just setting up a direct debit to take the payment on the due date.
Cheers
Mark

grumbler

Hi and welcome.
Absolutely no benefit in paying early for most of CCs, if you use them only for purchases and pay balance in full and on time every month. The only exception I know is Lloyds TSB Advance CC that doesn't have usual up to about 8 weeks interest-free period on purchases.
Also if you don't pay balance in full and on time you lose interest-free period on purchases next billing month and all purchases attract interest. In this case the sooner you pay the smaller interest you are charged.