How to avoid paying minimum interest fee charges on the BBR, while still getting quarterly credit?

[galahad15]

Hi, I don't mean to ask an uninformed question lol, but I was wondering what strategies posters here use to be able to avoid paying minimum interest fee charges on the BBR, while still getting the quarterly credit?  I find I keep getting hit with a minimum $1.50 or thereabouts minimum interest charge, but if I pay the account in full to $0 before my statements cuts, then I will not qualify for the quarterly credit with a $0 account balance?  I know I can always do a promo 0% BT, but then I have to pay BT fees...help please? 

[Anonymous]

You just pay the statement balance each month before the due date.  YOu only get charged interest on amounts that weren't paid in full before the due date.

Don't pay any balance BEFORE the statement date posts that balance.

[HeavenOhio]

I think the issue is that the OP revolved a balance at some point and is having trouble resetting the grace period. The easiest way to reset appears to be to get a statement to cut at zero, which is what he's trying to avoid.

OP, I'd call BoA. They might have a way to reset the grace period, possibly by having you submit a prepayment.

[NRB525]

If that is the issue, then let a statement report a small balance, and as soon as the statement prints with the minimum interest, pay that entire amount, all the balance plus interest, to zero, the day or two after statement. I have been able to get BofA off the interest, even when carrying a BT. You just want to pay very soon after the potential interest trigger appears, not wait until the payment due date. 

Calling BofA is also an option.  

[Anonymous]

i was gonna post this by itself as a warning but i guess i can answer the OP too.

for the OP, you need to let the statement cut with a balance! do not pay it down to zero.

here's how i did mine and how i got it rolling every month thereafter.
- got a monthly charge for $9.99 netflix - 4th of the month
- let statement close with that $9.99 balance - 28th of the month
- due date is on the 25th (of the following month), so pay that $9.99 due anywhere in between closing date and due date (29th of the month - 24th of the following month).
- since $9.99 is a monthy charge and if there's no payment yet, the CURRENT balance will show $19.98 beginning the 4th of the following month. do NOT pay this amount! just pay the STATEMENT balance of $9.99 which won't have any interests (PIF paid in full). and just leave an outstanding balance ($9.99) that will close again on the 28th. from then on, just rinse and repeat.

i hope that was clear enough.

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if you're like me who 'automated' BBR with a small monthly charge from netflix, make sure you have a charge THIS month on your BBR or else you might forfeit your QT bonus.

somehow my netflix didn't charge this month. might have something to do with the new netflix pricing? good thing i noticed or else it would have closed my statement with zero balance. O.o