You can draw cash or make purchases anytime using your credit card and pay for them later. But paying over time will come at a cost. If you take more than a few weeks to pay off your balance, you would have to pay a fee in the form of a finance charge. It is possible to avoid having to pay finance charges on your credit card. Paying your full outstanding amounts before or on the due date will help you avoid finance charges.

Cash advance transactions are also subjected to a finance charge. Finance charges don’t only include interest charges, but also other charges such as transactional fees, etc. Paying your minimum amount due might save you from paying late payment charges, but the finance charges/interest rates will keep accumulating to your total amount due. As the charges keep accumulating, it would become harder to pay off your dues. So it’s always better to pay the total amount due.