[rhouse30]

I was told if you send your payment in at least 5 days before it is due, it would help bring the principle down quicker and you would also have less interest to pay. Is there any truth to that?

Any tips on being charged as less interest as possible or other tips are welcomed.

Thanks in advance.

[sweet jane]

If you are holding over balances on your credit card, then yes, it will help to lower your principle. Every day after the first 30 days following a purchase, you are charged an interest fee. It is small, but it adds up. You might also want to pay a little bit every time you are paid if you are paid bi-monthly or weekly. Instead of holding it out until the due date.

[progunr]

Yes, the faster you pay it, the less interest will accrue.

Paying more, and or more often, will limit the cost of the credit.