Question about payments after statement but before due date

CreditCrunchie

Hi all,

I've just had notification that the statement is available for my new credit card. The payment due date is 5th May.

I want to pay this off now but my question is have I started a fresh month now, or not? So if I pay today then buy something on my card will I still have a balance to pay come 5th May or will that then go on to the next month?

Hope that makes sense as I'm a bit confused by it all.

Thanks

Atidi

CreditCrunchie wrote: »

Hi all,

I've just had notification that the statement is available for my new credit card. The payment due date is 5th May.

I want to pay this off now but my question is have I started a fresh month now, or not? So if I pay today then buy something on my card will I still have a balance to pay come 5th May or will that then go on to the next month?

Hope that makes sense as I'm a bit confused by it all.

Thanks

As you have now received a statement, you are only required to pay the amounts on that statement (or at least the minimum amount stated) by the due date.

Any extra spending will be applied to the next statement.

By paying off some/all of the amount due early, you will then free up some credit availability to spend again - useful if you are already close to your limit