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Reply to "Credit Cards - payment due date vs. closing date"
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[quote=Anonymous][quote=Anonymous]Thanks to both PP. This is OP. Updating my example in case that helps: $1000 on card when statement is issued on 8/1 (so $1000 spent in July). $50 minimum due by 8/24, closing date 8/30. I pay $50 by 8/23, leaving $950 on the card. I then pay the full $950 on 8/30, leaving a zero balance for the 9/1 statement. Am I charged interest on the $950 for the period of 8/24-8/30?[/quote] July spending 1000 (closing date for this statement was end of july) Min due 50 on 8/24 Remaining balance 950 (this is the amount that you have to pay interest) August spending $xx (closing date 8/30) 950 has nothing to do with 8/30 but everything to do with 8/24. Yes you have to pay interest for the period of 8/24-8/30 plus whatever fees CC charges[/quote]
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