Confused about about interest charges on SPG

[IWOL]

I opened my SPG card in July.

Charged $956 during the first period. Paid $783.54 before statement cut on July 14th, leaving a balance of $172.60.

Second cycle I charged  $780.47 and made payment on $953.07 on  8/7 bringing the balance to 0 but on the testament cut there was an interest charge of $10.08 added to statement cut balance.

Statemnt shows I was charged 19.24% on $617.7 from 6/29. I don't get where they get that number from.

Nest period I charged $2353.23 and made a payment of  $2363.31 on  9/7....to bring balance to 0. Statement just cut yesterday and there was an interest charge of $14.14 added to stament balance and it shows I was charged on $925.03 at 19.24 percent from 6/29.

This doesn't make any sense to me. 

[coldnmn]

When you carry over a balance from the previous month any new charges are charged interest also until card is paid in full.

[Anonymous]

Were you not part of a 0% offer?

[itguy_65]

If you do not PIF, they charge on average daily balance for the period.

[IWOL]

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@itguy_65 wrote:

If you do not PIF, they charge on average daily balance for the period.

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Ok, that sort of makes sense....so do I need to pay the $14.14 balance now to avoid interest on the charges I make this period?

I  got the 30k bonus offer before it expired, never saw an offer for a 0% into period.

[s_haliz]

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@coldnmn wrote:

When you carry over a balance from the previous month any new charges are charged interest also until card is paid in full.

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In my opinion "If you carry over a balace from the previous month past payment due date then any new charges are charged interest also until card is paid in full. 

[IWOL]

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@s_haliz wrote:

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@coldnmn wrote:

When you carry over a balance from the previous month any new charges are charged interest also until card is paid in full.

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In my opinion "If you carry over a balace from the previous month past payment due date then any new charges are charged interest also until card is paid in full. 

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OK.....so to clarify. I now have a balance of $14.14 which was added to my account upon statement cut. If I don't pay the 14.14 by this statements due date any charges in my new cycle will also be charged interest.

to break that cycle, I just need to now pay the $14.14 by the due date on my statement that just cut?

[rlx01]

Was your payment of $935.07 before or after the due date on the first statement?

[s_haliz]

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@IWOL wrote:

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@s_haliz wrote:

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@coldnmn wrote:

When you carry over a balance from the previous month any new charges are charged interest also until card is paid in full.

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In my opinion "If you carry over a balace from the previous month past payment due date then any new charges are charged interest also until card is paid in full. 

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OK.....so to clarify. I now have a balance of $14.14 which was added to my account upon statement cut. If I don't pay the 14.14 by this statements due date any charges in my new cycle will also be charged interest.

to break that cycle, I just need to now pay the $14.14 by the due date on my statement that just cut?

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Pay $14.14 immedaitely and then talk to them and ensure as to if there is any purchase where they are keep charging interest. Normally if you clear statement balance (the one which is past due date) with applicable interest, the interest meter stops there. I would call the rep and be clear on this. 

[longtimelurker]

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@itguy_65 wrote:

If you do not PIF, they charge on average daily balance for the period.

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Yes, this is key!   People talk about cash advances being charged interest from the time they are made, and while this is indeed true, normal purchases also accrue interest from the time they are made.   The key difference is that if the full balance is PIF by the due date, interest charges on purchases are waived, and those for Cash Advances aren't

So here, as you didn't PIF, your purchases based on your average daily balance are charged interest.   This usually takes two complete PIF cycles to clear.