Pay Attention To Credit Card Payments

If you have a credit card and use it to make payment transactions, of course, you have the obligation to pay credit card bills every month. The amount of the bill that you have to pay is listed on the Billing Statement which usually contains details of the transaction (spending and cash withdrawal), payments and other costs (if any). The billing sheet is sent by the credit card issuer to you every month in accordance with the print date of the credit card bill. Before making a payment, you should carefully read the Billing Sheet to check whether the details and the amount match. After that, you can make bill payments via useful reference to make it easier and faster. The following are things that should be known for paying credit card bills.

a. Minimum Payment
Credit card issuing banks usually offer a payment system where you are allowed to pay a certain minimum amount at the latest when the bill is due. The purpose of this minimum payment is actually to ensure that your credit card is trouble-free and shows that you comply with the terms and conditions set by the credit card issuing bank.

b. Full Payment
In addition to paying the minimum amount, you are also allowed to pay the entire total bill printed on your Bills Sheet. This full payment system is highly recommended, especially if you pay these bills before the due date because that way you will not be charged interest.

c. Payment of any Amount between the Minimum Amount and Total New Bill
If you happen to have funds in excess of the minimum bill but not enough to pay the bill in full, then you can pay any amount between the minimum bill and your new total bill. This, among others, is to reduce the amount of arrears that will be charged interest, thereby reducing the burden of bills that you must pay in the following month.

d. Fixed Installment Payment
In addition to the above methods, most credit card issuing banks offer payment systems where you can change the total printed bill to a fixed installment for a period of 3, 6, or 12 months according to your ability. This fixed installment payment system can be an alternative that you can choose because the interest charged to you is not compound interest but fixed interest (flat).

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