Whether you have 20 credit cards or just one, thereís some decision-making involved with making your monthly credit card payments.
Letís say you have $600 to spend on credit card payments and your minimum payments total $450. How should you spend the other $150? Should you spread it among all the credit cards? Should you make a lump sum payment to just one of the credit cards? If so, which credit card? Or, since making the decision is so tough, should you just spend the money on a new gadget instead?To help you decide, consider the Five Principles of Making Credit Card Payments. Keep these in mind as you write the checks for your credit card payments each month.
More on Managing Credit Cards:
How Many Credit Cards Is Too Many | Understanding the Credit Card Billing Process