New Delhi, April 8 -- At the end of the credit card billing cycle, the credit card company sends you the bill and gives you two weeks to clear it. You would typically have two options at this stage: pay the credit card bill in full or only pay the minimum due. However tempting it may appear, it is recommended not to choose the minimum due option. Instead, the card users must clear the entire bill in one go.

Here, we share the key reasons for paying the entire bill instead of the minimum due.

I. Higher interest rate: The interest credit cards charge is quite high-sometimes 2 to 3 per cent per month. Therefore, when you delay the payment by three months, you lose 9 per cent of the overall bill in interest.

This is why you should avoid pa...