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Obviously before the due date, but to expand on that...

Assume that you are carrying a balance month to month. Paying immediately upon receipt of the bill will lower the amount of your balance, thus decreasing the amount upon which the credit card company can charge interest for those days between when the bill is issued and when they would normally receive payment if you paid on the due date. Usually this period is about 2-3 weeks and the savings isn't much unless you carry a high balance and/or have a high interest rate, but every penny helps.

Never pay late, never miss the due date. Some credit companies have clauses that state that if a due date is missed, your interest rate can sky rocket, there are also late fees to contend with and if you pay late repeatedly (sometimes only once) it is a black mark on your credit report.

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17y ago

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