New Delhi, Feb. 17 -- If you are a regularcredit card user, you would be receiving the credit card bill on a regular basis i.e., every month. And you would typically have an option of either paying the minimum due on it or clear the bill in full.

Regardless of your temptation to pay theminimum due, one should refrain from doing so because this leads to an accumulation ofhigher interest and late payment fee.

Let us understand how this happens. Let us suppose, you have anoutstanding credit card bill of Rs.one lakh in one month and you had an interest-free period of upto 45 days following the transaction. Now before the last date of payment, if you pay only the minimum due, the interest will be calculated from the date of transaction (whic...