Making Multiple Payments per Month (Credit Cards)

I always try to pay as much over the minimum due as possible. Then every chance you get make additional small payments. Skip a lunch, send a payment for $10. Don't go to a movie, send another $20.

I believe this helps "speed the spend down" due to how the card companies calculate interest. Not sure of the specifics - but this method really helps with getting the PRINCIPLE balance down.

Your mini payments take care of alot of the INTEREST so when your main payment hits, it goes (mostly or more so) towards PRINCIPLE.

Good Luck
Tagi: creditcards
Opublikowane dnia 04-07-2008 19:54 | 0 Komentarze | Dodano do ulubionych 0 razy | Oznaczono 0 razy jako niewłaściwe
 

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