Am I missing something?

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LS67
 
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Am I missing something?

Postby LS67 » Tue Dec 01, 2015 3:45 pm

Hello,

While paying my credit card statement I noticed something odd. Not sure if maybe I'm missing something, or if this is something I need to check on. On Nov 16th I paid my balance in full of $720. Today I viewed my account and the balance is $790. But if you add up all of the transactions between the day I paid the full balance and today it only adds up to $601.62. Where is the extra $189 coming from?

I made purchases on the 3-4 days leading up to the day I paid the $720 balance, but if they are on the statement before the day my payment posted on the balance shouldnt they part of the $720 balance, not carried over to the $790 balance?


Vermonster
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Re: Am I missing something?

Postby Vermonster » Wed Dec 02, 2015 7:29 am

I know the feeling. It took me 2 months to sort out some funky charges on my Freedom. What ended up being the problem is that some charges were pending for a date outside of the statement even though the charge was made within the statement. It wasn't until the charges were processed that the correct date was attached to them.

For example, I had a charge of $500 on the 30th of a month, the statement cut that night. But it took over a week to fully process, so between the initial date, and the processed date I had a statement cut. This was an easy one to track down and account for. But the other charges were a little harder as some didn't even show as processing until a few days after I swiped the card.

I would keep an eye on those balances and look for a few charges that will flip from pending to processed in the next few days.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

takeshi
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Re: Am I missing something?

Postby takeshi » Wed Dec 02, 2015 7:37 am

LS67 wrote:Am I missing something?

Possibly but without statements we can't tell you. If you can't track it down then call your creditor. As suggested above, make sure the charges you assumed were on the prior cycle actually posted within that cycle.

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9Cline
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Re: Am I missing something?

Postby 9Cline » Wed Dec 02, 2015 3:04 pm

+1 Takeshi,,, we would have to see if you pd the statment bal which included those charges & interest if any ..if not then those charges + int. had to be added to new bal.
Good Luck !!!!
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LS67
 
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Re: Am I missing something?

Postby LS67 » Wed Dec 02, 2015 6:55 pm

Thanks for the replies.

So to clarify, the actual purchase amount isnt always added to your balance on the day the statement records it correct?

Example....

$100 purchase made on the 5th and shown on statement as the 5th
Balance paid in full on the 7th
$100 purchase from the 5th shows up on actual balance on the 8th or 9th, after the full balance was paid

I always thought the day it was recorded on my statement was the day it was added to my current balance, but I understand what you are all saying now.

Vermonster
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Re: Am I missing something?

Postby Vermonster » Thu Dec 03, 2015 9:19 am

LS67 wrote:Thanks for the replies.

So to clarify, the actual purchase amount isnt always added to your balance on the day the statement records it correct?

Example....

$100 purchase made on the 5th and shown on statement as the 5th
Balance paid in full on the 7th
$100 purchase from the 5th shows up on actual balance on the 8th or 9th, after the full balance was paid

I always thought the day it was recorded on my statement was the day it was added to my current balance, but I understand what you are all saying now.


It depends on so many factors. One big one is how often the store runs a report. You might make the purchase on the 5th, but it doesn't report to the credit card until the 12th then it might take a few days to process. So your receipt can say the 5th but the statement says the 15th.

Another thing that is very annoying is gas. (hehe). 99% of the time a $1 charge is placed on the card simply to see if the card is valid. Later the charge will change to the full amount eg. $30. SO maybe when you pay it is only calculating it at $1 but now you have a $29 balance. Generally this gets sorted out by the statement cut date, but can lead to some confusion.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k



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