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Tax refund and paying off a credit card, can I pay principle only?

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Anonymous
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Re: Tax refund and paying off a credit card, can I pay principle only?

CCC send you terms and conditions, In the T&C it tells you exactly how payments will be applied. Generally speaking it is applied to highest interest items first (cash advances) then in descending order. Some are slightly different, AF if included in balance must be paid, etc etc. You cant dictate how your payment is applied. Most also use daily balance x daily APR to figure interest if you are in an interest paying situation, so it really doesn't matter how it would be applied, unless you have a strange situation where you have 10 different items being charged 10different rates.

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