Am I paying interest

[ShiningDown]

 If I am carrying a balance from month to month and I purchase something today and pay off the item before the due date will I be paying interest on today's purchase?

The item says 10% off using your discover card. I should know this 

[myjourney]

Depends on if you have a 0% deal in place?

[09Lexie]

You will be paying interest anytime you carry a balance. Carrying a balance means to revolve a balance past the grace period.

Edit: except if its a promo 0%

[ShiningDown]

I know you will pay interest anytime you carry a balance but my question is a little different. I still don't know the answer! 

[Revelate]

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@ShiningDown wrote:

I know you will pay interest anytime you carry a balance but my question is a little different. I still don't know the answer! 

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Have to admit I'm a little confused as well .

Are you talking about carrying a balance, purchases you make this month, and you less than PIF by the due date, which ones come off first either the first or the last in terms of grace period?  I haven't the faintest idea but I would assume oldest charges get paid first.

[myjourney]

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@ShiningDown wrote:

I know you will pay interest anytime you carry a balance but my question is a little different. I still don't know the answer! 

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If you aren't in a 0% promo period then yes you will be paying INT on the balance that you had before paying off the new purchase 

What you would need to due is payoff the balance before the new purchase and then next month the new purchase would be available for INT should you not pay that balance off 

I hope this makes sense

[ShiningDown]

The balance on my discover card is a 0% balance transfer offer I have until may 2014. 

[09Lexie]

BT or purchase?

[Revelate]

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@ShiningDown wrote:

The balance on my discover card is a 0% balance transfer offer I have until may 2014. 

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Think you may need to ask Discover; I could see that going either way frankly depending on their implementation though someone may know explicitly.

Am I correct in assuming let's say you have 2000 in a BT you're carrying, you buy a $10 lunch, and you pay $10 by the due date the following month: are you now at 1990 0% and $10 at given APR, or 2000 at 0% and not paying interest on said lunch?

If I had to guess it's the former.  Isn't there an interest paid to date somewhere in the Discover interface?  Would be worth testing if you didn't want to just ask them .

[compassion101]

If I understand your question correctly you should be fine paying it off and shouldn't accrue interest.

If you want to be more careful, pay the minimum amount plus the amount you charge. Normally the minimum payment amount is applied to the lowest interest first and the rest is applied to the highest interest rate. For example if your balance is 2000 at 0% and you buy something for $300. Statement should show 2300, minimum $25. So if you pay $325, the first 25 should go toward the 2k owed, the rest should go toward the balance with highest interest (or that would accrue the most new interest). So the other $300 should go toward your purchase.