- Centurion Member
- Posts: 4046
- Joined: Thu May 08, 2014 7:42 pm
- Location: United States
If I understand this correctly, you can't avoid interest if you make multiple payments on a card between the statement date and the due date?
Example: The statement date is August 1 and the balance is $1,000. The due date is August 25.
A payment of $500 on August 10 and another on August 15 triggers interest on the last $500 of purchases from their dates of purchase to August 15. The first payment would be considered less than PIF, so interest would accumulate, even though the card was paid in full by the due date.
But a payment of $1,000 on August 15 would be considered paid in full and escape interest because there was no balance remaining after the first (and only) payment came in.
Is that right?
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt, Arrival
May close or PC: Prestige, BrooksBros
Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech