Paying in full but still carrying a balance

molerat

I wonder, from stating you like to pay from different sources, if you are making multiple payments over the month thus hitting the minimum but not making the full amount by due date. You have not mentioned late or missed payment fees so this seems the most likely scenario.



One thing to note is that until your statement says it will be taking the full payment on a certain date the payment will not be taken even though you have a dd set up, a trap many fall into. You also need to be aware of your card's dd policy if you make other payments during the month. Some will reduce the dd, others will still take it.

chattychappy

audymaccop wrote: »

In the event that you are as of now conveying an enthusiasm bearing equalization, you should clear two proclamations in full to quit trailing interest.

I proclaim spam!

[Deleted User]

chattychappy wrote: »

I proclaim spam!

And not just any spam. Spam that has taken my post, run it though some English to Gibberish translation programme and churned out this nonsense.

An imaginative approach to post building!

Deleted_User wrote: »

You simply need to clear the statemented balance in full by the due date each month.

If you are already carrying an interest bearing balance, you will need to clear two statements in full to stop trailing interest.

audymaccop wrote: »

You essentially need to clear the statemented balance in full by the due date every month.

In the event that you are as of now conveying an enthusiasm bearing equalization, you should clear two proclamations in full to quit trailing interest.

redux

Yeah, I had actually thought it and that user's other posts sounded a bit like twice through Google Translate, but I hadn't spotted that was such a copy of yours.

chattychappy

Furthermore negative merely any meat product. Corned beef that robbed your mail, sprinted through some English to nonsense conversion process and mixed out this silliness.

A creative scheme to bollard construction!

shiny76

Y23A wrote: »

I'm not sure what's gone wrong;

Rather than asking forum users, you will (hopefully) get a better/accurate answer from your CC provider. Call them and ask.

WhatsUp

I've read through the replies on this thread and I am still struggling to understand how the 56 days free interest period works on credit cards? If for example a statement is issued on the 1st of September and contains transactions from July and August... Then why can't you just pay off all the transactions made in July and still avoid paying interest? Why do you need to pay off ALL the transaction for July AND August (i.e pay the FULL Amount) - surely August's purchases should be interest free? And if you do make an additional payment during the month, even if it's after the due date, shouldn't this reduce the interest portion that was due/forecast on your statement?! I'm confused... Is this due to the carrying over of your balace?

[Deleted User]

WhatsUp wrote: »

surely August's purchases should be interest free?

Surely not.

It's UP TO 56 days interest free. How long depends on when in the month you make the transaction. The day your statement is produced, you can get 56 days. The day before, only a couple of weeks.

You need to clear the full balance of each statement to avoid interest.

Additional payments will go to the statemented balance, then unstatemented transactions.

redux

WhatsUp wrote: »

I've read through the replies on this thread and I am still struggling to understand how the 56 days free interest period works on credit cards? If for example a statement is issued on the 1st of September and contains transactions from July and August... Then why can't you just pay off all the transactions made in July and still avoid paying interest? Why do you need to pay off ALL the transaction for July AND August (i.e pay the FULL Amount) - surely August's purchases should be interest free? And if you do make an additional payment during the month, even if it's after the due date, shouldn't this reduce the interest portion that was due/forecast on your statement?! I'm confused... Is this due to the carrying over of your balace?

July's transactions appeared on the 1st August statement, which to avoid interest should have been paid by the defined due date, 20th to 26th August (which is 50 to 56 days after the oldest possible transaction on 1st July).

Likewise the August transactions appear on the 1st September statement and would have a due date towards the end of September