Re: Newbie Question..
[ Edited ]
11-13-2012 07:46 PM - edited 11-13-2012 07:49 PM
to clarify, with option #4 if you pay the remaining $50 right after it appears on the next statement, it will not incur interest?
The short answer to your question: True. Pay the $50 after the next statement and it will not incur interest.
But instead of thinking of it that way, just wait till the next statement is received and repeat this exercise all over again.
Options 3-5 will not incur interest because you paid the Statement Balance or MORE.
Options 1-2 will incur interest because you paid less than the Statement Balance.
The $50 is part of the additional charges made AFTER the first Statement Date. It was left there so that it will be reported as the New Balance on the next (December) statement, making it look like you have 50/5000 = 1% utilization which is optimal for credit scoring purposes.
01/13/2016 - EX 790 (American Express EX FICO® Score 8, range 300-850)
01/20/2016 - TU 803 (Discover TU FICO® Score 8, range 300-850)
12/29/2015 - EQ 796 (Citi EQ FICO® Bankcard Score 8, range 250-900)
GOAL - 800! - App free since 12/13/2015