managing and protecting credit card
Credit Card Payment Practices
Once you charge items on a credit card, how much of the balance should you pay each month?
Pay your full balance each month.
Only pay the minimum monthly balance.
Only make payments every other billing statement.
"A" is the correct answer. Pay as much of the balance as you can each month. You'll be charged interest on any outstanding balance, and over time, this can really add up. If you only pay the minimum monthly payment on a $2,000 balance, it can take years to complete payment on what you owe, and in the end, you'll have spent almost as much on interest as on the amount you charged. If you miss or make late payments, you'll be charged a late fee.