topic Re: Question about PIF in Credit Cards

Question about PIF

icyhot — Thu, 03 Sep 2015 17:28:40 GMT

My last statement balance on my CSP was $3600, bill got up to $3900 on which I've just paid off. Now I've charged about $60 and all the purchases haven't cleared but the statement cuts on the 6th. If I PIF the statement balance after it cuts will I be charged interest on the last balance, or the smaller balance? Or will I be charged interest at all? Does it look good to banks to make payments of your entire statement balance after it clears? I'm not really concerned with the balance reporting since most of my cards are at 0. Thanks

Re: Question about PIF

jm1991 — Thu, 03 Sep 2015 17:43:32 GMT

as long as you paid the 3600 or more then you are good.

Re: Question about PIF

icyhot — Thu, 03 Sep 2015 20:13:08 GMT

I already paid the $3600 balance, once my statement cuts the balance will be about $60

Re: Question about PIF

Anonymous — Thu, 03 Sep 2015 20:20:48 GMT

@icyhot wrote:
I already paid the $3600 balance, once my statement cuts the balance will be about $60

The rule is pretty simple! If you pay the statement balance by the due date FOR THAT STATEMENT, you will avoid interest (assuming no cash advance etc). So once your new statement cuts with a $60 balance, you only need to pay $60 by the due date to avoid interest, even if you charge $10,000 in between statement cut and due date.