Here are 3 ways to avoid paying more than what you actually owe on your credit cards
Publishing timestamp: 2023-10-11 12:04:00
Summary
The average credit card interest rate for existing accounts is at its highest in 30 years, reaching 22.77%. Automated payment options can help avoid late payment fees, but cardholders who use them tend to pay off less of their monthly balance. Experts recommend setting up automated payments to cover the entire statement balance to avoid paying more in interest and fees. It is also important to make smaller payments regularly if the statement balance cannot be paid in full. Other tips include changing the card payment due date, being aware of the terms and conditions of zero percent APR offers, considering balance transfers, and exploring product changes with credit card companies.
Sentiment: NEUTRAL
Tickers: NRDS,
Keywords: credit card debt, breaking news: investing, winnie sun, products and services, business news, interest rates, personal finance, banks, credit cards, nerdwallet inc, investment strategy,