We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Full Balance
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.
0
Comments
-
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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.6K Work, Benefits & Business
- 602.9K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards