It’s Bill Paying Time – an event all of us dread each month.

After pulling out the credit card to make that purchase you could not live without, it is time for the dreaded bill which will show up later in the month. Now the process of paying off the purchase starts.

Pulling the card out was much easier than writing the check. Call me old fashion but I still write checks. Paying online does not carry the same sting!

But it is important to know how to handle making your credit card payments to make the process simpler and incur the least amount of additional fees.

Best Card for Credit Card Balance Transfers - Chase Visa® Platinum Card

Pay Off A Balance

The sad fact is approximately 1/3 of all holders of credit cards do not or are unable to pay off the balance each month when the statement arrives. This same 1/3 also walks around scratching their heads wondering when making the “minimum” monthly payments each month - Why the balance remains about the same.

In an effort to keep you pain and payments low, credit card companies often charge a low minimum payment which covers your interest and a small part of the principle owed. It’s hard for a balance to go lower when you cover only the interest!

Balance Payoff Tips

• Start planning! Begin to plan your purchases with cash in hand and ONLY use your credit card under – again planned purchases! I use mine when I travel, rent a car, stay at a hotel and when I’m buying something my wife and I have agreed to charge but will pay off at the end of the month.

The Chase Freedom^SM Credit Card is a good overall card for points and rewards!

• Start paying more than the minimum. You must pay more than the minimum if you want to see your balance decrease – and stop charging! Consider switching to a lower rate card or transferring the balances of all your cards to one credit card and begin hammering away at the balance – and stop charging! The current top card for balance transfers is Chase Visa® Platinum Card This new lower rate card has a purpose. That purpose is to get you out of debt by allowing more of you payment to go towards the balance -– so stop charging!

Choose Your Card Wisely

Different credit cards allow you to pay the balance in different ways. Some cards you must pay off monthly and others allow for payments or partial payments on the unpaid balance.

When the balance is unpaid you are charged interest on the balance.

Take the time to carefully choose the credit card and the payment terms which will best meet your needs. Your credit score also plays a factor in the card you choose.

The goal show be to pay your credit card off every month.