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Sorry... kind of a dumb ? about monthly balance payments

New Visitor

Sorry... kind of a dumb ? about monthly balance payments

Hi,

 

I'm pretty sure I already know the answer to this question but I just want to make sure.  I have a capital one card.  Nov's statement was an ending balance of say $300 and is due next week.  Since I got that statement let's say I racked up $200 more in charges, so now I have a total balance of $500.  I usually go online and pay any charges Friday of every week but with Christmas and traveling going on I haven't really kept up with it this past month.  I still want to pay my balance off in full so I don't get charged any interest.  So I'm correct in believing that I just need to pay the $300 off to not get charge interest?  Or will I still get charged interest on the $200 I charged since getting my last statement?  

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Super Contributor

Re: Sorry... kind of a dumb ? about monthly balance payments

Welcome to the forum.  Yes you are correct.  You only need to pay the current balance in full to avoide interest.  Your new $200 charge will get the same grace period to avoid paying any interest. 
Message 2 of 3
Senior Contributor

Re: Sorry... kind of a dumb ? about monthly balance payments

As long as you pay your most recent statement balance by the due date, you will incur no interest on purchases.  Of course any cash/atm transactions would accrue interest from the date of transaction.

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09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
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