Will my credit card balance decrease when I stop using a credit card?

The balance on your credit card can keep increasing even after you’ve stopped using it. This is due to interest and fees. Interest on credit cards is not low. It is usually somewhere between 21% and 24%. That means if you have $1000.00 on your credit card, during the course of the year, you could end up paying $250.00 simply in interest.

When you use more that the credit card balance allows you to use, there’s another fee. And if you’re not paying your bills on time, there is a fee for that too. So, it is not inconceivable that by the end of the year, if you haven’t paid your credit card, you could owe double the amount of purchases that you actually used the card for, especially if you have a low balance.

The key to keeping your credit card bills from going up is to pay them off or get rid of them. As long as you have a balance on your credit card, you can expect interest to accrue on that card.