27
Just realized I was paying my credit card bill wrong for 5 years
I always paid the minimum due plus a little extra, but last month I saw my statement and noticed my balance wasn't dropping much because I didn't know interest was still hitting the full purchase amount, has anyone else missed this trick with how they apply payments?
2 comments
Log in to join the discussion
Log In2 Comments
elizabeth_gonzalez8d ago
Think you're being a bit harsh on them, it's on us to know how interest works.
6
uma_wilson798d ago
Happens to more people than you think.
Credit card companies are sneaky with that "trailing interest" trick.
Always pay the full statement balance if you can.
1