Once again, if my credit card bill for this month is $100, can I go ahead and pay off all $100 of it?
What is a minimum, and is that a seperate fee from the $100?
Are there any other fees to pay for if I'm paying on time? (I'm not talking about late fees)
Thank you for your help
StarSwinger: You can pay the whole $100.
The minimum is the smallest amount of money your credit card company requires one payment to be. The exact amount depends on your credit card company. It is not a separate fee. For example, lets say your credit card company says your minimum payment is $30. This $30 includes some of the original $100 along with an interest amount charged for the $100.
If you are paying the entire $100 on time, then there are no fees. If you make the minimum payment, you will be charged interest. Most credit cards have high interest rates so whenever possible, pay your card in full each month.
The minimum payment is the lowest payment that the credit card company will accept and not count your bill as being late. If you owe $100 and the minimum payment is $20, and you only pay the minimum, then next month,you would still owe $80 PLUS any interest charges that apply based on the interest rate of your card.
If you owe $100 and you pay $100, then the bill is paid in full and no interest will be charged on the next billing cycle. You can always pay any amount more the minimum and up to the full amount.
If you have $100 to pay off your $100 bill, then by all means.
The minimum depends on your card. It will tell you the minimum. Keep in mind that any balance not paid in full is charged interest (which is often high). There are no fees or interest charges if you pay on time.
You can either pay the entire balance or the minimum. In general, if you pay only the minimum, it will take longer to pay off the balance AND it will cost you more in interest. If you make a late payment, you can be charged a late fee and your minimum payment and interest rate may increase. Read the terms and conditions document your credit card came with.
Yes you can pay it all, and it's a real good idea to do. You must pay AT LEAST the minimum payment – that amount i part of the $100. If you pay less than the whle amount you have on the card, ou'll be chrged interest on the next month statement.
You should always pay your credit card in full every month. The minimum payment is how much you are required to pay by the due date in order to keep your account in good standing. If you pay in full by the due date, you can ignore the minimum payment.
You have no business having a credit card. If you pay the minimum interest accrued to the unpaid balance. If you pay the entire bill, then there is no interest.
You can pay it off every month and have a balance of zero.