How to Maintain Positive Balance on Credit Card?

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You have a credit card and a job, but you’re concerned about how much money you owe on your card. You pay the bill off each month, which is great, but what if that money is coming out of your bank account before it’s even earned?

Your goal should be to maintain a positive balance on your credit card (or at least not have it be negative). That means making sure that you can pay off your balance every month before interest kicks in and can maintain minimum credit card payment because as per SoFi experts, “If you don’t make the minimum payment amount, you could be charged a fee or, worse, your interest rate could increase.”  

Here are some tips for doing just that:

Pay of as much as possible each month

If you’re not able to pay off your balance in full each month, aim to pay at least the minimum due on time. This will help keep your credit score high and prevent costly late fees from piling up. Some issuers may also offer rewards for on-time payments—so if that’s a feature you’d like to use, set up automatic payments or set aside the cash in advance, so there’s no excuse not to pay on time!

Avoid finance charges by paying on time

Some credit card companies charge fees for late payments, so it’s important to make sure you pay your bill in full and on time each month. This will help you avoid overspending, as well as the high-interest rates that come with financing purchases on a credit card.

It’s also good practice to pay off your balance in full each month or at least pay down a significant portion of it—that way, you won’t be tempted to spend more than what you can afford!

Pay more than the minimum balance due

The best way to maintain a positive balance on your credit card is to pay more than the monthly minimum due. Paying off your account in full each month will help you build a positive credit history and improve your credit score. If you can’t pay off the full amount of your bill, at least try to make a down payment that’s greater than what’s stated in your contract.

Review your credit card statement regularly

Check your credit card statement regularly for any errors, unauthorized charges or purchases that you do not recognize. This will also help you reduce the chance of getting charged interest. If a charge appears on your bill that you don’t remember making, contact the credit card company immediately and ask them to investigate it before they process the payment request from their bank.

If the credit card company cannot help you, or if you have a dispute with the merchant, contact your state’s attorney general’s office. They may be able to help mediate between you and the merchant. Credit cards can be useful for your convenience and financial health. They provide a way to pay for things you might not have the cash on hand for, but they also come with risks and responsibilities. If you want to make sure that your credit card stays in good standing and is helping rather than hurting your finances, then follow these tips!

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About the author

Anwesha Mukherjee

Anwesha Mukherjee is a Digital Media Publisher and freelance writer. She has been working in the publishing industry for over 6 years now, holding various positions at different publishing houses across India. Her work experience includes managing marketing campaigns, content development and website maintenance for various industries including healthcare, IT, finance and education.

She also offers ghostwriting services to help aspiring authors get their book published while maintaining creative control over the project.

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Anwesha Mukherjee

Anwesha Mukherjee is a Digital Media Publisher and freelance writer. She has been working in the publishing industry for over 6 years now, holding various positions at different publishing houses across India. Her work experience includes managing marketing campaigns, content development and website maintenance for various industries including healthcare, IT, finance and education.

She also offers ghostwriting services to help aspiring authors get their book published while maintaining creative control over the project.

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