Question about paying my balance

AlwaysUp · ‎05-02-2012

Hi,

So my due date is the 17th, but my statement is usually issued by the 23rd.. So my question is.. can I make a partial payment by the 17th and pay the rest before the 23rd to get a 2% balance ? Or it's better to pay everything in full by the 17th?

Does it make a difference for my score?

Thanks

llecs · ‎05-02-2012

Most all CCs report the balance you had on the statement date. So whether you make your minimum payment+ by the due date and make a second before the statement date or pay down your balance by the due date and not use your CC, then end result is the same.

AlwaysUp · ‎05-02-2012

Cool, so the only difference is the interests I'll get charged, right?

Thanks!

llecs · ‎05-03-2012

@AlwaysUp wrote:
Cool, so the only difference is the interests I'll get charged, right?

Thanks!

That varies from creditor to creditor. They are required to tell you how they calculate interest on your statement. Some calculate it off the balance you had on the statement date and yet others calculate it on a day-to-day basis and post that on the statement date.