Balance and Statement Cycles

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AceH
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Balance and Statement Cycles

Postby AceH » Wed Jul 21, 2010 8:56 am

When paying your credit card balance, if you pay the AMOUNT DUE for the latest billing cycle but yourTOTAL balance includes a charge made AFTER this billing cycle, will you be charged interest because you did not pay for the amount charged AFTER the last billing cycle but you did pay the FULL AMOUNT DUE for this cycle?

EXAMPLE: AMOUNT DUE for period ending July 15, 2010 is $500 but you charged $150 after the current billing cycle making your TOTAL BALANCE $650. One can pay $500 (AMOUNT DUE for current billing cycle) and not have to pay interest on the $150 charged AFTER that last cycle? (to be paid at next billing cycle)


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Mogul of Pineapples
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Postby Mogul of Pineapples » Wed Jul 21, 2010 6:25 pm

No. If $500 was the total amount listed on that cycle's statement, that is all that you need to pay to avoid interest. The $150 charge will apply to the new cycle if it wasn't included in your last statement. Hope this helps.
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AceH
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Postby AceH » Wed Jul 21, 2010 8:29 pm

I just received my statement in the mail today, and it is NOT listed. Thanks for the reply.



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