Here’s a little-known tactic for helping you get out of debt: biweekly credit card payments. Paying your credit card biweekly is a quick and easy way to reduce your credit card debt and to ensure you never miss a payment.
Say you owe $5,000 on a credit card with a 17% interest rate and a 3% minimum payment. If you only send in the minimum amount every month, by the time you’ve paid off that $5,000, your interest bite would be $4,119. It would take 14 years to pay off your total tab of $9,119!
However, simply sending in half of your minimum payment every 14 days can help you pay your debt off more quickly, with less interest. In the example above, you would cut your interest bill by $2,521 and could be debt-free in three years and 18 weeks instead of 14 years.
Check out our credit card interest calculator to calculate your specific debt and interest rate and get an idea of how much biweekly credit card payments could save you.
Paying your credit card bill twice in one month may seem unnecessary but there are some potential benefits to consider. In this comprehensive guide we’ll explore whether you can make multiple credit card payments per month, the advantages and disadvantages, and steps for implementing bi-weekly payments.
Is It Possible to Pay a Credit Card Twice Per Billing Cycle?
Yes, it is completely possible to pay your credit card bill more than once during your monthly billing period. There are no rules against making multiple payments before the due date.
Most credit card companies allow cardholders to pay however often they want, whether weekly, bi-weekly, or even daily As long as the full minimum payment is received by the due date, the timing of additional payments is flexible
How Making Bi-Weekly Payments Works
Paying bi-weekly means dividing your monthly payment in half and paying that amount every two weeks. Here is a simple example:
- Your monthly minimum payment is $120
- Instead of paying $120 once per month, you pay $60 every two weeks
- This results in 26 half-payments annually rather than 12 monthly payments
By making bi-weekly payments, you end up making 13 monthly payments per year rather than 12. This extra payment goes entirely towards reducing your principal balance.
Potential Benefits of Bi-Weekly Payments
Here are some of the biggest advantages of paying your credit card bill twice per month:
Pays Down Balances Faster
The main benefit is that bi-weekly payments accelerate debt repayment. The extra payment each year cuts down your principal faster, helping you save on interest charges.
Lowers Credit Utilization
Since your balance is lower in between statement cycles, your credit utilization ratio improves. This can boost your credit score over time.
Enhances Budgeting Habits
Checking your balance and making a payment each paycheck keeps your spending habits top of mind. It encourages better monitoring of your budget.
Reduces Interest Fees
As mentioned, the faster debt repayment results in less interest paid overall. This saves you money compared to just one monthly payment.
No Credit Card Company Fees
Most card issuers allow bi-weekly payments at no additional cost. Just verify that no fees apply for your specific card and account.
Potential Drawbacks of Bi-Weekly Payments
While often beneficial, there are a couple potential downsides to consider:
Can Increase Chance of Late Payments
You essentially double the number of payment dates to remember, which could increase the risk of a late payment if you lose track.
Requires Close Budget Monitoring
To avoid overspending between payments, you need to closely track expenses and your available balance every two weeks. For those without consistent budgets, this can be challenging.
Possible Bank Fees
Your bank may charge fees for electronic transfers or multiple online payments from a checking account. Verify any costs before setting up automatic bi-weekly payments.
How to Set Up Bi-Weekly Credit Card Payments
Here are step-by-step instructions for splitting your monthly payment in half and paying every two weeks:
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Contact your credit card company to check if bi-weekly payments are allowed for free. Verify no additional fees will be charged.
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Review your budget to ensure you can comfortably afford two payments per month rather than just one.
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Calculate your monthly minimum payment, divide by two, and set calendar reminders for those amounts every 14 days.
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Pay the first half by the monthly due date, then pay the second half 14 days later. Repeat this cycle each month.
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Consider setting up automatic payments through your credit card company or bank account for convenience.
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Closely monitor your credit card balance and adjust spending habits as needed in between payments.
The Bottom Line – Can I Pay My Credit Card Twice in One Month?
Paying bi-weekly instead of monthly is an easy and effective strategy for accelerating debt repayment. Most card issuers allow multiple payments without fees or hassle.
However, carefully consider whether the benefits outweigh any potential drawbacks based on your budgeting style and payment history. Used responsibly, bi-weekly payments can help you save on interest and reach credit card freedom faster.
How to make biweekly credit card payments
Making biweekly credit card payments is easy. To pay your credit card bill twice a month, simply:
- Pick the credit card with the highest interest rate and stop charging on that card.
- Pay the current month’s full minimum payment by the due date.
- Split the minimum payment in half.
- Send in the half payment every 14 days.
- Ensure payments still reach the creditor by the due date on months that have 31 days.
Card issuers are required by law to credit payments when they’re received. You can also ask your card issuer if you can authorize electronic transfers every 14 days. Most companies provide this service for free.
Also, consider the electronic bill-paying service where you bank. If the bank doesn’t charge for this privilege and will automatically transfer the funds every 14 days, then this can be an excellent option.
It can help you watch your budget
Surprise expenses can pop up that you didn’t anticipate when you created your budget. Unfortunately, it’s easy to charge these to your card and then forget to adjust your budget accordingly. This can cause an unexpectedly large credit card bill at the end of the month.
Biweekly credit card payments can help counter this problem. If you’re signing in to your account every 14 days to make a payment, you can check your balance to ensure you’re on track with your budget. This awareness can help you make better decisions with your purchases for the rest of the month.
➤ LEARN MORE:How to pay off debt and use your credit card at the same time
BEST Day to Pay your Credit Card Bill (Increase Credit Score)
FAQ
Is it good to pay a credit card twice a month?
Key takeaways. Paying your credit card twice a month is good because it allows you to check in with your spending and get ahead of your bills. If you’re carrying credit card debt, making a credit card payment every other week could also save you money on interest.Mar 31, 2025
Is it okay to pay a credit card twice before the due date?
Yes. You can pay your outstanding in multiple amounts. If the statement balance is paid by due date no penalty is charged.
What happens if you pay your credit card bill twice?
Paying more than what’s due on your credit card bills won’t negatively affect your account, and you won’t lose the money.
Can I make 2 payments on my credit card in one month?
You can absolutely make more than one payment on your credit card a given month. By accomplishing this, you able to pay more on your principal and less on interest.
Should I pay my credit card multiple times a month?
Second, by making multiple payments, you are likely paying more than the minimum due, which means your balances will decrease faster. Keeping your credit card balances low will result in a low utilization rate, which is good for your score. How many times a month can I pay my credit card?
Should I make multiple payments on my credit card?
If you typically carry a balance on your credit card from one month to the next, then making multiple payments during each billing cycle can reduce your interest charges overall. That’s because interest accrues based on your average daily balance during the billing period. The lower you can keep the balance day by day, the less interest you pay.
Does paying credit card twice a month reduce interest?
Making multiple payments helps lower your credit utilization, potentially boosting your credit score. It can also reduce the amount of interest you pay by decreasing your average daily balance. Overall, more frequent payments contribute to better credit management and can save you money.
How often should I pay my credit card?
While it’s perfectly fine to make that full payment once per month, it may be beneficial for your budget and credit score to make several small payments toward your balance instead, as long as they add up to your full balance owed. Is it better to pay credit card weekly or monthly?
What happens if you make multiple payments in a month?
When you make multiple payments in a month, you reduce the amount of credit you’re using compared with your credit limits — a favorable factor in scores. Credit card information is usually reported to credit bureaus around your statement date.
Does making two credit card payments a month improve your credit score?
Yes, making two credit card payments monthly can improve your credit score mainly by lowering your credit utilization ratio. Multiple payments lead to a faster reduction in your outstanding balance, resulting in a lower reported utilization rate to credit bureaus. This lower utilization is viewed positively and can boost your score.