*WATCH ME* PAY CREDIT CARD BILLS! (When To Pay Credit Card Bill to Avoid Interest)

Ever wondered how to pay a credit card bill with Chase? Amex? Wells Fargo? I’ll walk you through my process to show you exactly HOW & WHEN to pay your credit card bill to boost your credit score! Click “Show More” to see Ad Disclosure. 📲 MAXREWARDS - Manage credit cards & rewards! Get Gold level for free with PROMO CODE = markr http://markscreditcards.com/maxrewards 💳👉VIEW CREDIT CARD OFFERS! https://markscreditcards.com/offers 🛍 RAKUTEN - Earn Cash Back! http://markscreditcards.com/rakuten ‼️ GET FREE STOCKS FROM WEBULL when you open an account & deposit $100: http://markscreditcards.com/webull 🎬 VIDEO: When To Pay Credit Card Bill To Increase Credit Score https://youtu.be/BtIwGldr9rY If you’re a beginner to credit cards, it’s important to understand how to use credit cards to build credit (and how to use credit cards to your advantage)! 1. KEY TERMS - BILLING CYCLE: Period of time between 1 bill and the next (approx. 30 days depending on the month). This is simply a bank’s way of grouping a bunch of your charges together into 1 bill (called a ‘statement’). - OPEN DATE: First day of your billing cycle. - CLOSE DATE: Last day of your billing cycle. - NEW BALANCE: The total amount of money you spent on the card during the billing cycle (i.e. all your charges added together). - DUE DATE: The day your bill is due.Only the min. balance is required, but that would charge you interest. So, pay the entire statement balance (i.e. the ‘new balance’) on or before the due date to avoid all interest charges. 2. KEY TAKEAWAYS… - Paying the minimum payment – or anything less than the full new balance – means that a portion of your charges will be carried over to the next billing cycle. This is the equivalent of borrowing money, so you’ll be charged interest until it’s fully paid. - TO AVOID INTEREST, pay your entire bill (i.e. the ‘new balance’) IN FULL on or before the due date. - Paying after the due date results in a late payment, which can hurt your credit score. Consider keeping a spreadsheet, using an app like MaxRewards, and turning on email/text notifications with your bank to remind you when statements become available and when they’re due. Also consider using autopay. - Paying your new balance early (i.e. before the due date) has the same effect on your credit score as paying on time (i.e. on the due date). There’s no difference. - I personally like to pay early to avoid last-minute scenarios and potentially forgetting. I usually let my billing cycle close, get my statement, and pay the entire new balance in full within 24 hours from my phone (i.e. about 3 weeks early). Disclosure: This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Mark Reese is not a financial advisor. #howtopaycreditcardbill #whentopaycreditcardbill #howtoincreasecreditscore