Pay My Credit Card in Advance

People who want to pay their credit card in advance will save themselves considerable interest over time. This is a very good idea obviously but it has another lesser known advantage and that is it tells the credit card company or financial institution that you are taking your consumer debt seriously and that you intend to pay off your credit card debt at the earliest opportunity.

Also because you have made regular payments above the minimum amount each month, your credit score will improve quite dramatically so that in the future if and when you require a larger loan, your previous repayment schedule will stand you in good stead.

People who loan money to other people, like to know that it will be repaid as soon as possible. It makes the financial institutions feel much more secure and security is what these organizations look for when lending money out.

Everyone would like to be able to pay their credit card in advance. It would certainly relieve the debtors (and today, isn't that most of us?) in our population of much of their stress and give most people a better life. So perhaps the secret to having a better life is to pay a credit card in advance as far as you can reasonably afford to do so.

Using a Taxation rebate cheque to pay down debt is an excellent idea and will save you a lot of money in interest. Let's face it, you have already 'paid' that money out to the Government so it isn't really 'coming out of' your budget.

Sure, it would be nice to be able to buy that new fridge or plasma TV, but if you spend your taxation return on these consumer goods, you will continue to pay a lot of money out in interest rates on your credit card(s) whereas if you put the money into paying your credit card in advance and getting that debt out of the way, you will then have a better chance of paying a lot less in the long run for any consumer items you feel that you need or would like.

It is such a pity that money can't be spent twice! No matter how often some of us try to “rob Peter to pay Paul” over time, this system of financial juggling catches up with debtors and has the potential to send us to the bankruptcy court.

When credit card companies and other financial institutions lend borrowers money on credit cards or consumer credit; their “product” that you are “buying” and they are “selling”, is interest. These organizations make their money from the interest you pay on your debt to them.

So the earlier you can pay off your credit card debt, the cheaper the money will be that you have 'bought' from these financial institutions.