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I have $0 credit card debt but this past month I had to use my CC for some parts for my car. Just wondering if it's better to pay off the current balance from the last statement which would be $51 or pay off the whole balance which would be $275. If I pay just the $51, will I have finance charges next month? I can afford the $51 on Nov 3, but not the $271.
Hope someone can help!
@AgentJackBauer wrote:I have $0 credit card debt but this past month I had to use my CC for some parts for my car. Just wondering if it's better to pay off the current balance from the last statement which would be $51 or pay off the whole balance which would be $275. If I pay just the $51, will I have finance charges next month? I can afford the $51 on Nov 3, but not the $271.
Hope someone can help!
If I am reading this correctly and you pay the entire statement balance in full, then next month you will have no Interest charges as you did not carry forward a balance. One thing that could make a difference is I know some secured cards have no grace period for purchases, so if that is the case then you probably would have interest charges.
DickC,
That is what I meant. Sorry to confuse everybody The card that I have is a Best Buy credit card and I have a total credit limit of $1,000 and of course I only owe $270 something.
Again, sorry for confusing the crap out of everybody!
I'm still not reading you. If your last statement balance, usually called the New Balance on most cards, was $51, just pay it off, and you'll be fine. When your next statement prints with another New Balance which incorporates your repairs, just pay it off as well.
Good Luck,