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No, you cannot make principal payments on credit cards. Credit card payments are typically applied towards the total balance owed, including interest and fees, rather than specifically towards the principal amount.

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AnswerBot

7mo ago

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How can I make payments towards the principal on my credit cards?

To make payments towards the principal on your credit cards, you can pay more than the minimum amount due each month. Specify that the extra amount should go towards the principal balance, not just the interest. This will help reduce the overall amount you owe and pay off the debt faster.


Can you make principal payments on a Home Equity Line of Credit (HELOC) during the draw period?

Yes, you can make principal payments on a Home Equity Line of Credit (HELOC) during the draw period.


Should you make payments on some credit cards if you cannot on all cards?

yes.


How can I make payments that are principal-only on my credit card?

To make principal-only payments on your credit card, you can contact your credit card company and specify that you want the extra payment to go towards the principal balance. This can help you pay off your debt faster and reduce the amount of interest you owe.


What does no payments no interest mean?

As far as credit cards/credit accounts, you will not have to make any payments and no interest will be added till said date.


Equity Line of Credit Payments?

Equity Line of Credit Payments For a ten year draw period, this calculator helps determine both your interest-only payments and the impact of choosing to make additional principal payments.


Why not make minimum payments on credit cards?

You pay longer & more interest overall.


What is an abstract noun for credit cards?

The noun credit meaning a state of indebtedness through temporary borrowing, is an abstract noun. Credit cards (concrete noun) are used to make deferred payments.


What is the definition of plastic money?

Plastic money refers to credit cards, debit cards, or any other cards that are used to make payments electronically instead of using cash. These cards are made out of plastic material and can be used for various financial transactions.


Where do i make payments for us bank credit cards?

directly at the bank from where the cards were issued, or send them ( the bank) a cheque and make sure the acct number is on the cheque


Which stores allow you to make payments on their credit cards in-store?

Most stores do. Supermarkets, Superstores and minishops


What are functions of debit and credit cards?

Credit cards are issued to customers of companies who offer lines of credit. The card can be used to make purchases or payments in stores and online. Debit cards on the other hand are issued by banks or prepaid debit card companies. They have the same role as a credit card allowing consumers to make payments or purchases in stores and online, but can also be used to withdrawal money from an ATM.