Incorrectly charged interest?

[EaglesFan2006]

I'm trying to figure out if I was incorrectly charged interest on my CC.  Typically I pay off the entire balance but this time I paid off the balance that was on the statement.  I was surprised to see an interest charge despite this.  Shouldn't paying off the statement balance mean that I am avoiding interest.  If not, is there an easy way to figure out what I would need to pay each month to avoid interest short of paying the entire balance?

[Wolf3]

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@EaglesFan2006 wrote:

I'm trying to figure out if I was incorrectly charged interest on my CC.  Typically I pay off the entire balance but this time I paid off the balance that was on the statement.  I was surprised to see an interest charge despite this.  Shouldn't paying off the statement balance mean that I am avoiding interest.  If not, is there an easy way to figure out what I would need to pay each month to avoid interest short of paying the entire balance?

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Generally for cards with grace period, If you pay the full statement balance by due date, interest will be waived. 

Be aware if you owe interest, it can take 2 cycles of PIF to get out of owing interest.  

So it sounds like you should not owe any, but specific might help us understand better. .     

[Walt_K]

Also, did you do anything like a cash advance?  Interest for that starts accruing immediately.

[IOBA]

EaglesFan2006 - which cc was this?

Many cc's now calculate the daily average to figure out interest.   So maybe the overlap between payment due date and the statement cycle allowed a small window of interest to be called.

Call up your cc.   Tell them you are confused about why you were charged interest and ask if they will give you a goodwill credit.