Avoiding paying interest on credit card

princesskittykat

This is probably a stupid question, but if anyone can help me out, that would be great. I have just taken out a credit card to improve my credit score, and Martin advises to repay in full every month to avoid paying interest. Does this mean that I need to repay BEFORE the statement arrives? Thanks in advance.

Anthorn

Usually you pay when the statement arrives and before the payment date. Look upon it as a statement period and you won't go far wrong.

There is a purpose behind creating a good credit history and that is to get a good credit score which will enable us to get credit. Here's a fuller picture from Martin and MSE
http://www.moneysavingexpert.com/loans/credit-rating-credit-score?_ga=1.108608133.625413678.1465941918U

Mojisola

princesskittykat wrote: »

Does this mean that I need to repay BEFORE the statement arrives?

No. The statement will have the date on it that you have to pay by.

andyfromotley

You can set up your direct debit to repay it in full and on time every month and this means you never ever have to worry about it again. (speak to youor CC about this) It is BY FAR the best way to manage your credit card. No missed payments, no late payments, no balance left to creep up month by month.