It can translate into smaller final payoff amounts. (getoutofdebt.com)
That means that unless you call your credit card company and ask exactly how much it will cost to pay your bill in full on the date you expect your payment to arrive — the so - called «final payoff amount» — you will still owe interest on your next bill, even if you make no further purchases with your card. (creditcards.com)
While the final payoff may seem far off, making extra payments in the early years of the loan can help you save hundreds or thousands of dollars in interest. (investmentzen.com)