Can I make a partial payment during the billing cycle?
Curious about credit card billing cycle
Yes, you can make a partial payment towards your credit card balance during the billing cycle. Making a partial payment means paying off a portion of the outstanding balance before the statement is generated or before the payment due date.
When you make a partial payment, the remaining balance will continue to accrue interest until it is paid off in full. It's important to note that making only the minimum payment or a partial payment may result in interest charges being applied to the remaining balance.
To avoid or minimize interest charges, it's generally recommended to pay the full statement balance by the payment due date. However, if you are unable to pay the full amount, making a partial payment can help reduce the overall interest that will be charged on the remaining balance.
It's important to check with your credit card issuer regarding their specific policies on partial payments and how they handle interest charges.