Generally yes.If one misses a credit card payment, would sending the credit card company enough money to pay off the overdue balance plus interest plus enough to cover upcoming charges plus a little extra stop the interest charges from continuing to accrue? Or would it be for naught? If that plan were to work, it would allow one to keep using the card and reaping rewards.
Recent experience: I had to do a cash advance of near $800 while traveling due to ATM card failure. As soon as it posted, I made a payment via the card's site of the balance + add'l $100 to force stop the damn interest accruals. So that cash advance only cost me a few dollars. Works the same on a late/missed payment. Key is the add'l $ to force your daily balance into a credit balance.
Statistics: Posted by RetiredAL — Sat Aug 17, 2024 8:45 pm — Replies 21 — Views 1963