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credit card monthly interest charges
dafyduck
Posts: 2 Newbie
in Credit cards
hello
i have a card with a large balance on it and i pay back the minimum repayment every month by direct debit the statment is dated 1rst of the month but the payment doesnt get made until the 27th someone told me that if i made the payment on the statment day i would pay less interest is this true?
thanks for your help
i have a card with a large balance on it and i pay back the minimum repayment every month by direct debit the statment is dated 1rst of the month but the payment doesnt get made until the 27th someone told me that if i made the payment on the statment day i would pay less interest is this true?
thanks for your help
0
Comments
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True, as you are effectively paying off your balance sooner, so it has lesser days to accrue interest.0
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You could save even more interest if you pay off more than the minimum.0
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