How to pay less in credit card interest

Using a credit card to buy something has many benefits, especially if you're trying to build your credit or earn rewards, but interest charges could cost you a lot of money in the long run.

The following tips can help you save money now and in the future on credit card interest:

Each month, pay your credit card bill in full. Most credit cards give you a grace period between the end of your billing cycle and the date your payment is due. If you pay off the balance on your statement before the end of your grace period, you won't have to pay interest on the purchases. You can set up auto-pay on most credit cards so that you never miss a payment.

Pay the bill on time. You don't have to wait until the end of your billing cycle to pay. In fact, you can lower interest charges on revolving balances by paying your credit card bill early and lowering your average daily balance throughout the month.

Get a card with a balance transfer feature. Already owe a lot of money? Think about moving your balance to a credit card with a 0% introductory APR period. Before the regular APR starts, the best balance transfer credit cards give you up to 21 months with no interest.

Try to get a better deal. You can call and ask for a lower interest rate on your credit card. Before you call your credit card company, you should make sure you know your current APR, when your statement is due, and if you have a balance.

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