minimum due payment

[cardex]

what if i pay minimum due amount on credit card bill before due date and clear the balance before new bill is presented will I be charged heavy interest? considering that there are already emi on card running will those be charges interest amount?

 

[helloworld]

1. Min. balance only helps where 'bank' doesn't report to 'credit reporting companies' that you missed a payment.

Other than that it do more harm than any good.

2. Interest accumulated on 'remaining outstanding' from the day transaction happened.



Better, IMO convert current outstanding also small EMI and pay monthly, that saves you much. Also, do re-analyze your financials to avoid the same again.

Why Paying Credit Card ‘Minimum Payment Due’ Is a Bad Idea - EMI Calculator

You just received your credit card statement. Your cash flows for the month are already stretched. You realize that you won’t be able to make full payment towards your credit card dues. You are aware that the interest on credit card debt (or unpaid amount) is extremely high. You stumble upon an...

emicalculator.net

 

[cardex]

View attachment 76253

1. Min. balance only helps where 'bank' doesn't report to 'credit reporting companies' that you missed a payment.

Other than that it do more harm than any good.

2. Interest accumulated on 'remaining outstanding' from the day transaction happened.

View attachment 76254

Better, IMO convert current outstanding also small EMI and pay monthly, that saves you much. Also, do re-analyze your financials to avoid the same again.

Why Paying Credit Card ‘Minimum Payment Due’ Is a Bad Idea - EMI Calculator

You just received your credit card statement. Your cash flows for the month are already stretched. You realize that you won’t be able to make full payment towards your credit card dues. You are aware that the interest on credit card debt (or unpaid amount) is extremely high. You stumble upon an...

emicalculator.net

does the interest apply to all outstandings or latest purchases, if I have EMI running already, made some merchant purchases, so the EMI will apply to only merchant purchases or loan emi too? and what date will be considered for loan emi, disbursement date?