Can making two credit card payments a month save you money?

A recent discussion focuses on whether making two credit card payments per month could reduce interest for borrowers carrying balances. With average credit card interest rates above 22%, paying the minimum often means a large portion of each payment goes to interest rather than principal. The article cites a Freedom Debt Relief study showing 28% of heavily indebted borrowers can only afford minimum payments, and 20% are behind on at least one account. It explains that many issuers calculate interest using an average daily balance, so paying earlier in the billing cycle can lower the balance sooner and slightly reduce interest charges. Savings depend on timing, rate, and whether the borrower is paying more than the minimum; if balances are paid in full monthly, splitting payments typically won’t add savings. It also notes two payments can help repay debt faster by increasing the total monthly amount applied.