How to avoid credit card interest charges?

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6 posts
Dylan1982
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How to avoid credit card interest charges?

Postby Dylan1982 » Sat Mar 24, 2012 7:57 am

I have a general and vague question..

Yesterday I opened a Kohl's charge card, got approved. I used it yetserday and put $12 on the card.

Here is my question....

How do you avoid paying credit card interest charges on new purchases? Do you pay the balance off before the closing of the statement?
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)


irvine801
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Location: Salt lake city, UT

Postby irvine801 » Sat Mar 24, 2012 9:05 am

As soon as you get a statement, pay the statement balance in full to avoid interest charges.
-American Express Zync.
-Discover IT. 4.5k limit 7.99%
-MC Citi diamond preferred. 1500 limit
-Visa Chase freedom. 2k limit.(23.24%, NOT IN USE)
-Miles by discover 1.5k limit.7.99%
-Best buy store card. 1500 limit
-Mt. America visa 1k limit

Dylan1982
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Posts: 323
Joined: Tue Mar 06, 2012 12:15 am
Location: Chicago

Postby Dylan1982 » Sat Mar 24, 2012 10:01 am

irvine801 wrote:As soon as you get a statement, pay the statement balance in full to avoid interest charges.

Does it have to be the same day you get the statement in the mail, or can you wait maybe a week to pay the balance in full?
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

DavidNY
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Location: New York

Postby DavidNY » Sat Mar 24, 2012 11:04 am

Pay it so they get the money on or before the due date, which will be listed on the statement. You'll have about 2-3 weeks to pay it after you get the statement.

irvine801
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Posts: 329
Joined: Thu Jan 19, 2012 6:26 pm
Location: Salt lake city, UT

Postby irvine801 » Sat Mar 24, 2012 11:12 am

DavidNY wrote:Pay it so they get the money on or before the due date, which will be listed on the statement. You'll have about 2-3 weeks to pay it after you get the statement.


Yup pretty much :) hope this helps!
-American Express Zync.
-Discover IT. 4.5k limit 7.99%
-MC Citi diamond preferred. 1500 limit
-Visa Chase freedom. 2k limit.(23.24%, NOT IN USE)
-Miles by discover 1.5k limit.7.99%
-Best buy store card. 1500 limit
-Mt. America visa 1k limit

Dylan1982
Centurion Member
Centurion Member
 
Posts: 323
Joined: Tue Mar 06, 2012 12:15 am
Location: Chicago

Postby Dylan1982 » Sat Mar 24, 2012 1:20 pm

DavidNY wrote:Pay it so they get the money on or before the due date, which will be listed on the statement. You'll have about 2-3 weeks to pay it after you get the statement.

Ok cool, that's what I thought!
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)



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