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Personal Finances / Credit Cards and Consumer Debt


Subject:  bi-monthly payments Date:  7/2/2001  10:42 AM
Author:  revbluejeans Number:  79171 of 312293

I was just reading about strategies to reduce debt, and happened upon the idea of making bi-monthly (in the sense of twice a month) payments to credit card companies. I don't quite understand how this helps more than paying them on time. I suppose if you knock out some of the debt before the due date, it reduces your average daily balance, but can anyone out there give me a more complete picture of how this helps (if that is actually true), and the best way to structure and time these payments to my best advantage? Perhaps this has already been covered in another group of posts. If so, does anyone know where that thread began? Thanks.
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