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FAQ #40875

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How much more than the minimum payment can you send a credit card company?

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As much as you want to up to the full amount of the balance owed. As long as you make at least the required minimum payment by the due date, your account will be considered in good standing. However, it can take a long time and cost a lot (interest charges) if you make only minimum payments. If you pay an additional amount (the more, the better) beyond the minimum, your outstanding debt will be repaid faster. Once your debts are repaid, the amount of monthly debt repayments can be saved for future financial goals.

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