We don't currently offer the option to make a principal-only payment (see payment application order above). Therefore, when you pay more than your monthly payment, depending on your payment history, your billing statement may show that your next payment due is for less than the scheduled amount, or it may show that your next payment is not due until a later future date. However, even though your billing statement may reflect that you owe less than the full monthly scheduled payment, you may choose to pay the scheduled payment amount or more than the scheduled amount. Or you may pay the reduced amount shown in the billing statement, depending on what your goals are. If you'd like to pay less interest or pay your account off sooner, you can always pay more than reflected.
If monthly payments are consistently made prior to the scheduled due date or more than the amount due is paid, less interest accrues on the unpaid principal. Therefore, the final payment may be less than the scheduled payment amount listed on your contract and the account may be paid off sooner.
There isn’t a limit to the number of extra payments that can be made in a month. To check your payment, you can chat with us in MyAccount or call us at 1-800-284-2271.
*This does not apply to lease accounts.