Should I Pay Off My Credit Card in Full?

Yes, if you can, you should pay your credit card in full every month.

The best target is your statement balance paid by the due date, because that usually avoids interest and helps you stay out of debt.

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Paying in Full vs Paying the Minimum

• Paying in full (statement balance): usually means no interest on your purchases.

• Paying the minimum: keeps your account in good standing, but you can end up paying a lot of interest, and debt can take a long time to clear.

Statement Balance vs Current Balance

This trips people up.

• Statement balance: what you owed when your last statement closed.

• Current balance: your statement balance plus any new purchases since then.

If you pay the statement balance by the due date, you are usually doing it right.

What If You Can’t Pay in Full Right Now?

Do this in order:

1. Pay at least the minimum (avoid late fees and credit damage).

2. Pay as much extra as you can, even $20–$50 more helps.

3. Stop new spending on the card while you pay it down.

4. If your interest rate is crushing you, look into a lower-interest option like a consolidation plan or balance transfer (only if you understand the fees and can stick to the plan).