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?
$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.