Question about extra CC payments..

**Ashlncle** · 04-21-2008, 12:14 PM

We are sending every last penny to one of our CC and I had a question about it. When we send in an extra $30 or whatever..are we charged interest on that amount or does the $30 go straight to the balance?

**momofslg** · 04-21-2008, 02:25 PM

As I understand if you send in any extra amount then that amount is applied to principle. They will then charge interest on the remaining balance.

ie. you owe 1000 and pay 130 new balance will be 870 +interest on that 870.

**mmy2grls** · 04-21-2008, 03:30 PM

The only thing I can think of where it would be applied to the interest first is loans unless you specify that the extra is to put on principal

**Libby** · 04-21-2008, 06:24 PM

My understanding is that if you make a payment to your CC it goes to your balance which includes the daily interest on certain items. If you put the $ in sooner rather than later, it has less chance of growing. I have never heard anything about asking them to apply it directly to principle only.

Great job on paying down the cc!