How to avoid finance charge on Credit card every month?
Troy asked:
I have $2500 outstanding balance on my credit card and I don’t want to pay it all at once. If I stop using this card and don’t make any purchases, will I avoid a finance charge every month?
I have $2500 outstanding balance on my credit card and I don’t want to pay it all at once. If I stop using this card and don’t make any purchases, will I avoid a finance charge every month?
Tags: Charge Card, Credit Card, Finance Charge
December 17th, 2009 at 8:34 am
You can’t - the only way to avoid the finance charges is to pay the full balance by the due date.
December 20th, 2009 at 3:16 pm
Only way to avoid finance charge is to pay the entire balance in full every month
December 22nd, 2009 at 1:00 pm
Finance charges accrue on the unpaid balance that you carry over month to month.
So until you pay off the credit card you will incur a finance charge each month.
December 24th, 2009 at 2:02 pm
No. As long as you carry a balance, you will incur finance charges.
February 9th, 2012 at 3:05 pm
Nice read. I just passed this onto a buddy who was doing a little research on that. He actually bought me lunch because I found it for him! Thus let me rephrase: Thanks for lunch!