What do you mean by "paying in full every month"?

For just about anything you want to get off your chest about credit cards.
4 posts
VisaSpeak
Platinum Member
Platinum Member
 
Posts: 81
Joined: Wed Dec 26, 2012 3:22 pm
Location: NJ

What do you mean by "paying in full every month"?

Postby VisaSpeak » Thu Mar 14, 2013 12:38 am

Do you mean just making the min. payment? Or paying the whole balance (leaving 0)


Probably a silly question but I tend to see the phrase used for different scnearios


AMEXPlatino86
Centurion Member
Centurion Member
 
Posts: 251
Joined: Mon Feb 18, 2013 5:51 pm
Location: New York, NY

Postby AMEXPlatino86 » Thu Mar 14, 2013 4:53 am

Typically "paying in full every month" basically means that the balance acquired on the CC is full paid off every month. There are two types of cards. With credit cards you have the option to pay in full but you can also just pay the minimum amount that is required to keep the account current. OOTH with for example a charge card you have to pay off the balance in full each month. You can't pay a minimum amount on a charge card.
Wells Fargo Platinum 2.100 (5/2011-cld 7/12/14)
AmEx Platinum (6/12)
Barclays Apple (6/12)
AMEX Gold Delta (5/13)
Marriott Rewards (7/14)

My credit score :cool:
EQ: unknown
EX: 776
TU: 774

DavidNY
Centurion Member
Centurion Member
 
Posts: 1332
Joined: Tue Jul 05, 2011 12:28 pm
Location: New York

Postby DavidNY » Thu Mar 14, 2013 10:19 am

VisaSpeak wrote:Do you mean just making the min. payment? Or paying the whole balance (leaving 0)


Pay in full means if you get a statement balance of X you pay X on or before the due date.

marzbarz
Gold Member
Gold Member
 
Posts: 44
Joined: Wed Jan 30, 2013 6:09 pm
Location: San Antonio

Postby marzbarz » Thu Mar 14, 2013 9:50 pm

VisaSpeak wrote:Do you mean just making the min. payment? Or paying the whole balance (leaving 0)


Probably a silly question but I tend to see the phrase used for different scnearios


If you racked up a $100 balance on your credit card bill, then you pay the full $100 when the bill comes in. (payed in full)

If you rack up $200 balance the month after, then you pay the full $200 when the bill comes in. (payed in full)

If you rack up $350 the month after that and pay only $50, then you did not pay in full.

Its a simple concept but takes discipline to really follow it.
AMEX Blue Cash: $23,500
CITI Doublecash (World Elite MC): $11,200
CAPONE Quicksilver (VISA Signature): $12,500
CHASE Freedom (VISA Signature): $20,000
USAA Rewards (World MC): $13,500
USAA Rewards (VISA): $18,500



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 2 guests