If i paid double the min. payment on my credit card last month...do i still have to make the minimum now?
Answers:
yes you have to pay the minimum, because last months extra payment was applied to the principal of the loan. The good news is that if you pay more than the minimum on a regular basis and do not add new charges you will eventually pay off your debt.
Yes. You'll always have a min. payment due as long as there is an outstanding balance. I hope this helps.
Why would you buy something if you can't afford to pay it back right away?
You can never skip a month, if you pay extra thats a bonus, but it doesnt eliminate the next payment. Sorry, if you skip it you will get a late fee, and it could make your interest rate sky rocket, so be careful and get your payment in ontime.
yes, you still have to pay this month.
some cards have a "payment holiday" that allows you to skip a month. BUT you have to call and ask for it BEFORE your payment is due. Interest will still accrue.
probably. Most credit card companies want a payment every month regardless of how much you pay. One way to pay a credit card down is to always pay the minimum due PLUS the finance charges. (that is assuming you havent made any more charges on it.)
You have to pay this month too.
minimum is the minimun. If you shose to pay more, thats fine, but you still have to pay the next months.
No. You can't skip the next month. The rules changed recently where you have to make a minimum percentage payment every month. There was a time where Discover Card reduced your next month's payment when you paid more than the minimum last month. This is no longer true.
yes, always pay at least the min amount required, and NEVER skip a payment. Everything that happens if recorded onto your Credit score and missing a payment is BAD!!!
If you want to get rid of what you owe on your credit card, always try paying a little more than the minimum required. Because the min required is just the interest accrued. Paying the principle is what you NEED to do to get rid of the card.
unfortunately Yes, However you can call your credit card company, explain you have a situation this month and would have difficulty making the payment this month. If you have a good history with this company, they should grand an exception and allow you to skip one or more payments.
Yes! You still have to pay the minimum payment the next month anyway.
So let's say for example you had a $1000 balance last month and you paid the minimum payment $10 x 2 = $20 So you still owe $980...now you have a brand new bill as long as there is any balance owing on it whether it's $1.00 or $1000 or whatever the amount then yes you have to pay whatever that (brand new month's) minimum balance is. Every month is a new minimum payment that you have to pay them.
Yes, They just consider that one month payment. I always try to pay more so I can get it down. Most times your just paying the interest and the balance won't go down much. That is consider just a monthly payment.
If you are paying the minimum, you are in deep do do. Step 1 - Cut the card in half Step 2 - Cut the rest of your cards in half Step 3 - Build a debt snowball and pay these accounts, in full, as soon as practical.
Do NOT skip. It's bad enough that they can charge the interest that they do. If you've ever read the fine print on the contract, they don't need any justification to jack up your interest rate at all. It is always best to pay it off ASAP. The longer you drag it out, the more money you are giving them for nothing. Think of it this way; you made a purchase for which you paid the agreed upon price with the merchant right? All the interest that you are paying on a month to month basis to your credit card is simply costing you more for something you already bought.
U would have to ask them..
yes
Look like everyone here has done a pretty good job.
Unfortantly they do not see it as a pre=payment for next month, just more toward your balance. You need to pay again. The good news is that 100% of the extra went towards the principle, no interest.
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