Clearing off balance

ericpode

I have a Barclaycard that I have been making payments off for a while. I don't use it for purchases, so the balance has just been reducing with each payment (and interest being added).

I now want to pay if off completely.

If I pay the amount on the last statement, this should clear the balance. Usually this would mean that no interest would be added because the balance is paid off completely.

However, I know from past experience that the next statement will arrive with a full month's interest which I will then have to pay off again.

Is there a way for me to completely pay off my card NOW to zero and not get any interest added to the next statement ?

[Deleted User]

Only by getting a fully up to date balance as of today.

If you use a prior statement, there will always be trailing interest to pay (as you have also been borrowing the money since that point).

If you use your last statement, you'll need to estimate how much more to add on for the interest.

ericpode

OK, thanks. So if I guesstimate how much interest will have accrued by the time they get my payment, then maybe add a bit to be on the safe side it should stop any more interest accrual dead. Then my next statement would have a positive balance.

I don't want to use this card any more after it is cleared off, so can I request them to send me a cheque for the positive amount ?

CLAPTON

interest stops if you pay the statement balance in full for two consecutive months

keep it simple.

grumbler

ericpode wrote: »

...Usually this would mean that no interest would be added because the balance is paid off completely...

Only if it's purchases and two previous balances were paid in full too.

ericpode wrote: »

...can I request them to send me a cheque for the positive amount ?

You can. If you close the account they will do this automatically.