Residual Interest

bengal-stripe

dubdub88 wrote: »

I'm seeing residual interest on my statements even though I have paid off the full balance.

Presumably you paid off the balance last month, but not the month before.

The interest due shown on last month's statement covers up to the day the statement got compiled. Your payment arrived some 10, 15 or 20 days later than the statement date. For these days you still had an outstanding balance and have to pay interest.

Only if you pay two consecutive payments in full, no more interest gets applied.