- Centurion Member
- Posts: 875
- Joined: Thu Apr 30, 2009 2:32 pm
- Location: Texas
Your cycle date of Aug. 10 (for this billing period) is the date your balance is tallied and a bill is generated. You have until your payment due date to pay this amount in full to avoid paying interest.
If you pay in part, interest will begin accruing on the remaining balance after the due date and will continue to accrue on this balance until it is paid.
The above does not apply, I believe in most cases, if during your previous billing cycle you carried a balance. In other words, when you owe the bank money, interest begins accruing on your additional purchases immediately; there is no grace period.
Anyone should feel free to correct me on this.
All you really need to know:
Pay on time, always. If you don't, you will incur a late fee.
Pay in full, always.
If not possible to pay in full, pay as much as possible.
Know that if you carry a balance, you will be accruing interest on your past purchases and the ones you are currently making.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).
*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.