ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Pay the amount used in full during the current billing cycle
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Make the minimum payment on the account statement
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Pay at least have of the balance showing on the statement
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Not making a payment at all.
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Detailed explanation-1: -When is Interest Charged on Credit Cards? As mentioned earlier, if you pay the total amount due (TAD) on your credit card before the due date, the interest charges will not be applied.
Detailed explanation-2: -Pay your monthly statement in full and on time Paying the full amount will help you avoid any interest charges. If you can’t pay your statement balance off completely, try to make a smaller payment (not less than the minimum payment).
Detailed explanation-3: -1. Pay Your Bill in Full Every Month. Most credit cards offer a grace period, which lasts at least 21 days starting from your monthly statement date. During this time, you can pay your full balance without incurring interest on your purchases.
Detailed explanation-4: -The best way to avoid credit card debt is to pay your balance in full each month. In order to reach this goal, make sure you’re only spending within your means.
Detailed explanation-5: -An interest-free period is a period of time when no interest is charged on a new purchase, and may automatically apply when you open a new credit card account. It will continue to apply as long as you pay your closing balance in full by the due date each and every month.