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OP, what is your payment due date?
OP, if you don't mind me asking, what's the Open and Close Date of your billing cycle? It should say at the top right corner of your statements. Also, what is your current Purchase APR?
@Anonymous wrote:OP, if you don't mind me asking, what's the Open and Close Date of your billing cycle? It should say at the top right corner of your statements. Also, what is your current Purchase APR?
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Previous balance: $1,490.09
Payments and Credits: - $1,490.09
Purchases: +$0.00
Balance Transfers: +$0.00
Cash Advances: +$0.00
Fees Charged: +$0.00
Interest Charged: +$26.80
New Balance: $26.80
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Open Date: Oct 6, 2014- Close Date: Nov 23, 2014
TRANSACTIONS
Payments and Credits
Oct 24 - INTERNET PAYMENT - $200
Nov 19 - PAYMENT - THANK YOU - $1,200
Nov 20 - INTERNET PAYMENT - $90.09
FEES
Interest Charges
INTEREST CHARGE ON PURCHASES: $26.80
INTEREST CHARGE ON CASH ADVANCES: $0.00
INTEREST CHARGE ON BALANCE TRANSFERS: $0.00
TOTAL INTEREST FOR THIS PERIOD: $26.80
2014 Total Year-to-Date
TOTAL FEES CHARGED IN 2014: $0.00
TOTAL INTEREST CHARGED IN 2014: $26.80
And how about your purchase apr?
15.99%
Is this a new account? Those dates do not seem correct. Both of my accounts only include a month (October 20- November 19 and October 6 - November 5). Yours is for almost 7 weeks. When was the payment due for this statement? If you don't mind me asking.
@Irisa wrote:Is this a new account? Those dates do not seem correct. Both of my accounts only include a month (October 20- November 19 and October 6 - November 5). Yours is for almost 7 weeks. When was the payment due for this statement? If you don't mind me asking.
they've pushed my due date up.
Oct 06, 2014 - Nov 23, 2014 balance: $28.80
Sep 06, 2014 - Oct 05, 2014 balance $1,490.09 paid nov 19.
Aug 06, 2014 - Sep 05, 2014
Julyl 06, 2014 - Aug 05, 2014
This happened to me with Bank of America, and yes, not all lenders do this.
It is a very convoluted way for CC companies to charge interest and is VERY hard to explain and I can't remember all the details to explain it. All I remember is to pay my Bank of America CC in full shortly after it posts to NOT be charged interest.
Oh...Now I remember...
Say your due date is the 1st of the month.
You haven't used your card at all in June and your balance is $0 on July 1st.
You charge $1000 during the month of July.
Your posted balance is $1000 on August 1st.
You charge another $500 in August bringing your balance to $1500 but only pay $750 before the due date of September 1st leaving a $750 balance. (You are now carrying $250 from the previous month.)
You say to yourself, "I better get this under control and pay this card in full this month and don't charge on this card at all during the month of September."
On September 15th you pay your reported balance in full including the small interest they charged for carrying the $250 from July. You should now have a $0 balance.
When they calculate your October 1 statement you are surprised that instead of a $0 balance your balance is $2.22. What!
They charged interest on the $250 from September 1st until September 15th when it was paid!
Yes, some CC companies are charging interest for EVERY day until the balance is paid!
I told you it was convoluted ahead of time!
From Discover;
Q: How is interest accrued if balance is not paid in full by due date.
A: "if the account wasn't paid off in full it would start earning interest, the interest would go all the way back to the last time the account was paid off in full."
Wow, avoid those interest charges. However, I guess this is to be expected.
@akula wrote:From Discover;
Q: How is interest accrued if balance is not paid in full by due date.
A: "if the account wasn't paid off in full it would start earning interest, the interest would go all the way back to the last time the account was paid off in full."
Wow, avoid those interest charges. However, I guess this is to be expected.
im so confuse but my 15 month 0% APR ended last billing period thats why i made sure i paid in full before my statement cuts which i did. it says $0 balance but when my statement cut today it now says $28 due dec 18. which was why im so confused. i email them asking how im incuured interest on a $0 balace ? still waitibng for a response. you said they charge interest starting from last time i paid in full ? but last time was still my 0% intro.