To Stop Paying Interest Charges, Overpay Your Credit Card Bill

MoneyTips

Can you pay off your credit card bill in full and still be charged interest? Yes – depending on the timing of your payment.

As National Financial Educators Founder and Chief Education Officer Adam Carroll points out, "One of the greatest expenses we have in our life is the interest expense on debt." Interest charges accrue according to the terms and conditions legalese of your particular credit card, which people rarely read until it’s too late. Generally, when the billing cycle ends, you will have a grace period to pay off that balance in full and avoid interest charges.

Your credit card statement will show the statement closing date, the amount due at that time, and the payment due date on that amount. Assuming your card has a