So I just got a new statement on my US BANK CC and noticed they charged me their minimum interest charge ($2). I went ahead and paid it just now (along with the $60 charge I made) because this card is going back in the sock drawer for 6 months or so and I'm too lazy too call and find out about the $2 interest.
I haven't used this card for probably 2 or 3 months -- I've had a 0 balance for that long as well. Recently I made one charge and it was made after the statement date and before the due date (that just passed) so I had no no minimum payment due.
Am I misunderstanding how/when interest is charged or did US BANK steal my $2? I thought that, if the previous statement balance was $0, and you made a purchase on the new statement cycle but before the old billing cycle's due date that you wouldn't have to pay interest?
Not sure if I'm explaining that correctly. Here's an easier version.
Statement: 7/15-8/6: due date 8/20 = no charges, no revolving balance
Statement: 8/16-9/17: due date 9/21 = no charges, no revolving balance
Statement 9/18-10/18: due date 10/20 = $60 charge on 9/18 and I was charged $2 (minimum interest fee) interest which will be due on 10/20.
Starting Score: ~500 (12/01/2008)