Reply to Credit Cards - payment due date vs. closing date

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][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]

Yes. Whatever you don’t pay in full by the due date has interest charged on it. The closing date has nothing to do with the previous statement.[/quote]

Great, thank you. OP here. That's what I assumed. In response to the previous poster, I always do pay off my entire statement each month. It just so happens that this month, I won't be able to pay it fully until after the "due date" but I can pay it off fully before the closing date. So I was wondering what would happen during those few days in-between. Sounds like I can expect a few days of interest. So to avoid that, I'll just take money out of savings and pay it off fully by the due date and then replenish my savings 5 days later. [/quote]

if this is your first time, give them a call and ask them if they can waive your interest. come back and thank me later. :) good luck[/quote]

Thanks! -OP[/quote]

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