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riskyinred
Posts: 66 Forumite
in Credit cards
Hello,
Really stupid question but I want to make sure I don't get it wrong.
If I intend to pay off my credit card balance in full am I paying off the last statement amount in full or the balance on the day I am paying?
e.g. statement balance is £250 but between the statement being generated (12th month) and the payment (10th the following month) I've added an extra £50. Am I paying off £250 on October 10th or £300 if the aim is to avoid interest?
Really stupid question but I want to make sure I don't get it wrong.
If I intend to pay off my credit card balance in full am I paying off the last statement amount in full or the balance on the day I am paying?
e.g. statement balance is £250 but between the statement being generated (12th month) and the payment (10th the following month) I've added an extra £50. Am I paying off £250 on October 10th or £300 if the aim is to avoid interest?
October Wins: Skin care cream exclusive to Harrods, £50 Amazon voucher, bottle of Bacardi Oakheart.
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Comments
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riskyinred wrote: »Hello,
Really stupid question but I want to make sure I don't get it wrong.
If I intend to pay off my credit card balance in full am I paying off the last statement amount in full or the balance on the day I am paying?
e.g. statement balance is £250 but between the statement being generated (12th month) and the payment (10th the following month) I've added an extra £50. Am I paying off £250 on October 10th or £300 if the aim is to avoid interest?
You pay off what's on the statement.
If you spend £100, statement in issued, then you spend £50 before paying, to avoid interest, you're paying £100, with £50 rolling over.
CK💙💛 💔0 -
riskyinred wrote: »Hello,
Really stupid question but I want to make sure I don't get it wrong.
If I intend to pay off my credit card balance in full am I paying off the last statement amount in full or the balance on the day I am paying?
e.g. statement balance is £250 but between the statement being generated (12th month) and the payment (10th the following month) I've added an extra £50. Am I paying off £250 on October 10th or £300 if the aim is to avoid interest?
Your paying off the statement amount.
What you build up between statement and paying it off is the following months statement!
HTH0 -
The former.riskyinred wrote: »If I intend to pay off my credit card balance in full am I paying off the last statement amount in full or the balance on the day I am paying?
£250e.g. statement balance is £250 but between the statement being generated (12th month) and the payment (10th the following month) I've added an extra £50. Am I paying off £250 on October 10th or £300 if the aim is to avoid interest?0
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