Tip Tuesdays: Can I Pay My Credit Card Dues Even Before I Receive a Statement From My Bank?

by Vinaya HS on June 1, 2010

in Finance

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Reader Gopal asks,

I can see my total credit card dues over the Internet. Can I pay off these dues even before I receive a statement from my bank?

Sure. You can. In fact, I follow this policy [and I'd advise you to] — each time I use my credit card, I wait for the transaction to get posted and pay it off immediately. My credit card statement has a Rs 0.00 due each month.

Tip Tuesdays is my initiative to share practical personal finance tips — every Tuesday. I’d be delighted if you could share a tip or two from your own experiences. Drop a comment to submit your tip. And, as always, do spread the word if you find this useful.




Thanks for reading this article. I'd love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.

{ 2 comments… read them below or add one }

Austin @ TheOrangePaper.com June 1, 2010 at 9:24 PM

Well, I have a question — Then why not simply use your debit card then? Saves you the hassle of paying each time you swipe your credit card.

Vinaya H S June 2, 2010 at 9:05 AM

Couple of reasons. One, you need a credit card for hotel/airline bookings. Two, the reward points. If you have the discipline to pay your credit card dues on time, the reward points can be exchanged for some pretty useful stuff. Another plus: one of my credit cards gives me a free movie ticket for every ticket that I purchase (@ PVR).

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