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Old 01-30-2018, 04:52 PM
10,292 posts, read 6,570,645 times
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Originally Posted by TowerSupport View Post
Ok, just to confirm, if I pay the statement balance of $8,500 by Feb 12th, I could leave the extra $3,000 I have put on since the closing of that statement period and pay no further interest?

Yes, as long as you pay your statement balance for that month you should not be billed interest.

The next $5K will be due the next billing cycle.
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Old 01-30-2018, 10:26 PM
Location: Wasilla, AK
5,975 posts, read 3,207,853 times
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Originally Posted by AlaskaErik View Post
Just to be on the safe side, I schedule my payment about five days before the due date. That way I know it will post before the due date. If you pay on the actual due date, it might not be credited to your account until a day or two later, giving your card company the excuse to charge you interest. But I pay the statement balance just before the due date ($8500 in your case), and I don't ever pay any interest, as the remainder will be part of my next bill.
Originally Posted by kevinm View Post
The better way is to schedule the payment using the credit card issuers site instead of your own banks billpay site. That way you get credit for the payment the same day. No issue with bank delay in posting the payment.

I always pay using the CC issuer's site, as I do one final check for fraudulent charges.
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Old 02-01-2018, 11:11 AM
Location: Gainesville, FL
190 posts, read 196,568 times
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I don't think anyone addressed your specific question. It is true that you do not [typically] accumulate interest on a rolling balance if you've paid off the statement balance the previous month. What I ran into and I think what you are asking is that still true if you floated a balance the previous month even if you paid off the specific statement balance. In my case the answer was 'no'--you acrrue interest on some amount of that balance that gets rolled into the next statement and I don't know if it's ever "zeroed" out to the previous situation unless you pay off the balance in full at some point. This definitely requires a call if you want to be absolutely sure how to 'reset' to the normal situation and not accrue interest on rolling balances.
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