Question about a credit card payment

[LukFilm]

Just got my first bill and the minimum I am supposed to pay is $36. I intend to make a $1,300 payment. The question I have is as follows: Can I pay in several installments (like two or more payments) or am I allowed only one payment per period? Thanks

 

[Fausto]

You can throw money at them as often as you like.

Fausto

 

[LukFilm]

Cool, thanks

 

[RossMAN]

Fausto1 is right. Just remember that a credit card is a revolving line of credit and not an installment loan. So any additional payments you make will not satisfy your next month's minimum due unless your statement has recently cut or you have a Sears credit card.

So in other words yes pay as much and as often as you like but you will still be due for a minimum payment next month if you still have an owing balance.

 

[Vincent]

I know of some situations where the credit card company limits the number of payments you can make. For example, they may allow only 2 electronic payments per statement period.

 

[Ausm]

<< I know of some situations where the credit card company limits the number of payments you can make. For example, they may allow only 2 electronic payments per statement period. >>



That's the way ,mine works if I use their interface for electronic payments but I still can send as many times as I want electronically using my Local Bank


Ausm

 

[ISAslot]

You can even pay them more that you owe them.

One of my cards has a balance of about -$2 right now.