Few things in this world are more confusing than credit cards—how they work, what they really cost and how to manage them responsibly. While it’s only my opinion, I think credit-card issuing banks are just fine with that.
But I’m not fine with that and you shouldn’t be either! When it comes to credit cards, ignorance is not bliss.
What’s the solution? Stop being ignorant. Learn all you can. Ask questions in order to grow your financial intelligence. That’s the way to win the credit-card game.
Dear Mary: I am on the fast track to paying off my credit-card debt in full and forever. I’m like a racehorse heading into the final lap. Here’s my question: Does it matter when I make my monthly credit-card payments? Would it make any difference if I paid earlier in the billing cycle rather than just before the due date? Kevin
Dear Kevin: Wow, this is great news and I’m out here cheering you on. The answer to your question is Yes, it does matter. Here’s why: