https://www.desidime.com/discussions/min-amt-due-on-credit-card-query?page=1#post_9305772
Interest it calculated on total amount due from the beginning of transaction date. It's given in the TnC of the cards.
Min Amount due on Credit card Query
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Hi, what happens if I pay min amt due before the due date & later pay the total amt due in a week? Let’s say the total amt is ₹40000. How much interest will I be paying on an average? TIA
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https://www.desidime.com/discussions/min-amt-due-on-credit-card-query?page=1#post_9305801
Better get it converted to emi.
https://www.desidime.com/discussions/min-amt-due-on-credit-card-query?page=1#post_9305888
Better to take money from someone and pay the whole amount, mental peace should be the priority.
https://www.desidime.com/discussions/min-amt-due-on-credit-card-query?page=1#post_9305911
just pay it off beg borrow steal but dont just pay the minimum
as soon as you pay it off reduce your cc limit from whatever it is to 20k coz you are not earning enough watever the reason may be for your spending forget what limit your cc have set it to change and set it to 20k and consider this your new limit
https://www.desidime.com/discussions/min-amt-due-on-credit-card-query?page=1#post_9306014
Paying full after due date will incur heavy interest. However many banks have seen reversing fully/partially the interest charges but again subject to approval. Better pay full if you can.
https://www.desidime.com/discussions/min-amt-due-on-credit-card-query?page=1#post_9306457
Every card caomes with a leaflet called MITC (Most Important Terms and Conditions). There they have easy to understand examples of how much you will be charged if you have so and so dues. If you have lost your leaflet, you can download it from your card's website.
https://www.desidime.com/discussions/min-amt-due-on-credit-card-query?page=1#post_9306502
If Ur Total Due Is 40k And Credit Limit Is 1 Lakh... Draw Money From Credit Card (Charges Will Be Around 1000Rs) And Pay The Bill , Interest Charged By Bank Will Be More Than 1000Rs...
https://www.desidime.com/discussions/min-amt-due-on-credit-card-query?page=1#post_9307042
Interest will be charged from the date of purchase of all the transactions in that statement....
https://www.desidime.com/discussions/min-amt-due-on-credit-card-query?page=1#post_9307103
If u pay min due and do the remaining payment before the next bill generation. U will be charged 500 to 1k late payment charges no interest is added if u pay before the bill generation date.
If u pay min due and next bill is generated u are charged interest as per bank 2.5 to 3.5% monthly.
Mininum payment fue once or max twice in a year will not bother you much. But dont make it recurring u can do min due this month and clear all next month. U will be charged 2.5% of total due and if u clear full due next month ur cibil score also is not affected.
Use wisely.
If u pay min due and next bill is generated u are charged interest as per bank 2.5 to 3.5% monthly.
Mininum payment fue once or max twice in a year will not bother you much. But dont make it recurring u can do min due this month and clear all next month. U will be charged 2.5% of total due and if u clear full due next month ur cibil score also is not affected.
Use wisely.
https://www.desidime.com/discussions/min-amt-due-on-credit-card-query?page=1#post_9307850
Don't apply if,but, or on credit cards... don't play. Just pay it.
https://www.desidime.com/discussions/min-amt-due-on-credit-card-query?page=1#post_9310061
UnderNation wrote:If Ur Total Due Is 40k And Credit Limit Is 1 Lakh... Draw Money From Credit Card (Charges Will Be Around 1000Rs) And Pay The Bill , Interest Charged By Bank Will Be More Than 1000Rs...
Yes this is best trick
https://www.desidime.com/discussions/min-amt-due-on-credit-card-query?page=1#post_9310314
UnderNation wrote:If Ur Total Due Is 40k And Credit Limit Is 1 Lakh... Draw Money From Credit Card (Charges Will Be Around 1000Rs) And Pay The Bill , Interest Charged By Bank Will Be More Than 1000Rs...
It's better to pay rent through that card or add money to a paytm wallet... Both charges will less than 500-700₹
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Better to take money from someone and pay the whole amount, mental peace should be the priority.
Interest it calculated on total amount due from the beginning of transaction date. It's given in the TnC of the cards.
@arunrush680
just pay it off beg borrow steal but dont just pay the minimum
as soon as you pay it off reduce your cc limit from whatever it is to 20k coz you are not earning enough watever the reason may be for your spending forget what limit your cc have set it to change and set it to 20k and consider this your new limit