When is the best time during the month to lower credit card balance???

[Deleted User]

Hi guys!
I've been making really large payments to lower balance of my credit card for the last three months, but AQUA keeps charging me a too high interest rate.
I phoned them today asking for an explanation on which the best day of the month to make a payment is in order for them to consider it to lower interest and the lady at customer service simply couldn't (maybe didn't want to)  answer this, so here I am, if AQUA doesn't want to help then I'll ask the expert tribe here for help!

This is also because I have noticed the interest they are charging me this June 2020 with a debt of X amount is higher than the interest they charged me in January 2019 when I had exactly the same X balance. (I increased the balance through 2019 and then at the beginning of 2020 started to decrease it via making larger payments than the contractual minimum payment). This lady told me AQUA hasn't changed my interest rate so what's going on then?

All help on this will be greatly appreciated!!

Regards!!!

[Deleted User]

The earlier you make a payment, the lower your balance, the less interest you pay. And what's going on is that you incur interest on a daily basis.

In what way are they charging you a 'too high interest rate'?

[Deleted User]

Deleted_User said:

The earlier you make a payment, the lower your balance, the less interest you pay. And what's going on is that you incur interest on a daily basis.

In what way are they charging you a 'too high interest rate'?

Thanks zx81
My balance runs from 19th to 19th and I have to make contractual minimum payment the 5th of each month.
So, when is the right day to make a larger payment (larger than the minimum)

[Deleted User]

As early as you can, as long as you are making at least the minimum payment each month.

For ease and to ensure you don't make a mistake, you might want to make it as soon as the statement is generated.