Which is the best strategy for paying your credit card bill? Pake no monthly payments at all. Pay half the balance every month. Pay the minimum payment every month. Palance every month.
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The Deep Dive
The best strategy is to pay off your balance in full every month. This approach not only helps you avoid interest charges but also boosts your credit score by keeping your credit utilization low. Plus, paying your bill on time and in full can give you a sense of financial freedom and peace of mind. In contrast, consistently paying only the minimum payment can lead to a cycle of debt, as you'll be accruing interest on the remaining balance. Over time, this can significantly increase the total amount you owe, making it harder to achieve financial stability. So, make that full payment and reap the benefits!