Pay as MUCH as you can each month to reduce the high interest rate. If you look at your bill, there will be a section showing how many years (decades!) it will take to pay off your card with the minimum amount and another showing X amount over 3 years. Both will show how much you spent on interest over that period of time.

If paying interest, pay everything you possibly can.

If not paying interest, then pay the statement balance by the statement due date.

Pay in full otherwise you're just paying a lot in interest.

All of it in full on time by the statement date. There is no other formula.

Pay in full is the ideal. If you cannot, pay as much as you can while still not "swiping" the card for more purchases until it's paid off. The interest rates are insane and a huge waste of money

Pay the statement balance before the due date. That's it.

Yes, this is a better answer for those who have found debt enslavement.

always pay in whole. Only by clearing the balance every month you wont incur any interest, and it is the only correct way to use a credit card.

You can set up automatic payment to zero the balance every month. It makes it easier to not forget to pay the bill.

What exactly are you trying to do? Pay down debt? Decrease your utilization ratio?

Best option is to pay it off in full. Second best option if your cc score isn’t shot get a personal loan with a lower interest rate. In this market around 8% that’s a third of a credit card. Then apply the method below and you are going to destroy the cc debt in no time!

If can’t get a personal loan you want to pay as much as you can after every pay check as it will reduce the interest build up. Interest is accrued daily on most credit cards and loans.

i.e. your cc interest is 24% and you have $10,000 in debt. You are paid bi monthly instead of paying $2000 right before the statement is due, pay $1000 per a check. $2000 right before statement is $200 in interest built in that month alone so only $1800 goes towards principal. If you do the bi monthly method you accrue ~$190 in interest and pay $1810 goes towards principal. This because even more potent of you get paid weekly or biweekly.

Another method is to put your entire check(or most of rent/mortgage can’t be)towards cc debt you then load everything you normal pay in your cc. As long as you pay it off in 30 days there is no interest on it. Make sure you have a budget and are not over spending other wise this plan will kill you instead!

i.e. cc debt of $10,000 at 24%. You get 2k paid bi weekly but have 1k in expenses per month. You will accrue ~$180 in interest and pay $3,820 towards principal -2k for that months expenses so $1,820 off the $10,000 in one month. I recommend converting the points into cash and using that to further pay down the cc debt.