Need CC to report at $0...interest?

[Anonymous]

i had balances on cards last month and this month.  Payed to $0.  How do I get interest paid before statement cuts?  Doesn't interest get charged essentially WHEN the statement cuts?  You can't really make a payment more than your balance to cover the upcoming interest charges, can you?

specifically, I'm referring to my Kohls and Citi card.

Thanks!

[OmarGB9]

So look at your statement balance every month. Whatever amount it says there, that's what you have to pay by the due date in order to avoid paying interest. For example: say your statement balance was $100. You would have until the due date (usually anywhere from 21-25 days out) to pay that $100 off in full and avoid being charged interest. Any purchases you make during this grace period will be included in NEXT month's statement.

[FinStar]

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@Anonymous wrote:

i had balances on cards last month and this month.  Payed Paid to $0.  How do I get interest paid before statement cuts?  Doesn't interest get charged essentially WHEN the statement cuts?  You can't really make a payment more than your balance to cover the upcoming interest charges, can you?

specifically, I'm referring to my Kohls and Citi card.

Thanks!

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So, in other words, were your balances on Kohl's and/or Citi revolving for a couple months before you paid them off?  What were the finance charges assessed on both in the last statement cycle? 

Typically, finance charges would post when your statement generates and/or cycle date so if your balances are currently zero, you may not be able to pay them on their respective websites.  However, if you know the approximate amount and are expecting finance charges (or residual balance) to post, then push the payment directly from your bank.

[Bman70]

If the card allows it, you can pay an amount over what you think interest could be. I've done this with Capital One. So you end up with a negative balance, which is reported as $0. Barclay, though, doesn't allow this. It depends on the bank. 

[compassion101]

If you  don't pay in full the previous month, you will accrue interest from the date of the statement till the date you pay.

Some cards will let you pay more than the balance, not sure about the ones you mentioned. If they don't , pay in full from their pat=yment site and then send a check from your bank to cover whatyou think the rest will be. They will usually accept the check