UAE: Looking to reduce your credit card interest payments? Here’s how you can go about it

uae credit interest card payments
UAE

UAE: Looking to reduce your credit card interest payments? Here’s how you can go about it

Dubai: If you've been trying to get out of credit card debt, you've probably heard about 0 per cent annual percentage rate (APR) credit cards that offer balance transfers. While these offers can be valuable, they're only one of the few ways you can reduce your credit card interest payments, and ultimately get rid of your debt. Every month, each credit card account issues a statement, along with a due date and a minimum payment. In addition to always paying more than just the minimum payment, you should also consider making more than a single payment each month. Credit cards incur interest charges based on your account's average daily balance, and anything you can do to reduce the balance each day will reduce your interest charges. If you can make an additional payment before the due date, you'll lower your average daily balance. Even if you can't make multiple payments throughout the month, just making your payment a week earlier will save you money. When the payment gets credited to your account, the average daily balance will be lower from that day forward. You can avoid interest charges by paying your statement balance in full every month. But if you