- 1). Pay off the balances on your credit cards in full. Until you can start with a zero balance, you will have to pay interest on your credit cards.
- 2). Check your credit-card agreements to determine which of your cards have a grace period--the time from the date of your statement to the date your payment is due. . During the grace period, you can continue to use your card without paying interest if you pay in full every month. If you don't have your agreements on file, call the 800 numbers on your statements or cards to find out whether you have a grace period.
- 3). Stop using cards that do not have a grace period. These cards will charge interest on new balances even if you pay in full each month.
- 4). Pay off your new balances in full before the end of the grace period. Be sure not to pay after the due date so you don't have to pay interest on your card
- 5). Read new cardholder information when it arrives. Banks often change card terms, and your grace period could disappear. Keep informed, use cards with a grace period and pay your balance each month to avoid paying credit-card interest.
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