topic Re: Question about PiF in Credit Cards

Question about PiF

Indo — Mon, 23 May 2011 01:53:20 GMT

So I've been looking up some information on AmEx since I recently got my Blue Cash card. I know AmEx would be the company that would prefer you to PIF every month rather than carry a balance, but I'm a bit confused about what that means.

Most CCC only charge you interest if you don't manage to pay the previous statement balance in full in the current month before the due date. Would PIF mean paying the statement balance completely, and continue charging for the remainder of the month, then having a reported balance for your next statement (obviously a low one)? Or would AmEx prefer you to just completely pay everything before the statement closes and you show a $0 balance?

Thanks for any answers. Just want to clear the air about this.

Re: Question about PiF

Guava — Mon, 23 May 2011 02:05:20 GMT

I would think PIF is paying whatever balance you have when the statement closes, whatever you charge after statement closing date will go on next month statement

Or you can pay your whole balance a few days before your statement closes, wait past the closing date to continue charging so that your card reports 0 balance

Re: Question about PiF

Anonymous — Mon, 23 May 2011 07:34:27 GMT

@Indo wrote:
So I've been looking up some information on AmEx since I recently got my Blue Cash card. I know AmEx would be the company that would prefer you to PIF every month rather than carry a balance, but I'm a bit confused about what that means.

Most CCC only charge you interest if you don't manage to pay the previous statement balance in full in the current month before the due date. Would PIF mean paying the statement balance completely, and continue charging for the remainder of the month, then having a reported balance for your next statement (obviously a low one)? Or would AmEx prefer you to just completely pay everything before the statement closes and you show a $0 balance?

Thanks for any answers. Just want to clear the air about this.

The either ways are PIF ... the difference is by the due date of closing date. I PIF by the closing date, so it reports $0 statement balance on my Amex Blue every month.

Re: Question about PiF

Anonymous — Mon, 23 May 2011 07:46:20 GMT

PIF means paying the statement balance by the due date.