Customers have the option of paying off their MasterCard balances each month or making payments in amounts of their choice, notes the MasterCard Payoff Accelerator. Customers who regularly make payments above the minimum due save money on interest.
If credit card customers pay off their balances in full they do not have to worry about accruing interest, notes Boomer & Echo. Some customers make a single purchase and pay it off immediately so they don't forget about it. For customers who cannot pay off their entire balances but want to pay less interest, MasterCard offers the Payoff Accelerator tool to show them how much they can save if they pay slightly more than the minimum payment each month.