Pay off CC in full, but not all at once

GingerBob_3

Just checking. I'm assuming that if you pay off your balance in full before the due date, but do it in, say, two parts with a few days between, there will be no interest to pay (each part being paid after the statement date)?

grumbler

Your assumption is correct.

MikeBrown123

That is exactly right, you can pay in separate £1 instalments if you like!

eskbanker

Although you can do it that way, it's slightly more MSE to keep the funds earning interest until as late as possible before making the payment in one go, for those fortunate enough to be in that position of course! Hardly going to be life-changing but you know what they say about looking after the pennies....

GingerBob_3

eskbanker wrote: »

Although you can do it that way, it's slightly more MSE to keep the funds earning interest until as late as possible before making the payment in one go, for those fortunate enough to be in that position of course! Hardly going to be life-changing but you know what they say about looking after the pennies....

True, but I did it this way because I used my card on behalf of someone else, who then gave me the cash. If I kept that cash until the payment date .. well, I wouldn't have kept that cash! Best to pay it off where it belongs, then the cash doesn't get "absorbed" into general funds.