topic Re: No interest...error? in Credit Cards

No interest...error?

kayvee_ — Sat, 23 Aug 2014 19:36:52 GMT

So....this month I left more than the $1 balance on my BofA BBR card..and I got no interest charges. However, I no longer have the 0% promo rate. I checked my statement and it says the variable rate is 21.99%.

could this be a mistake? Should I call the bank or just count my blessings and keep it moving?

Re: No interest...error?

jsucool76 — Sat, 23 Aug 2014 19:40:48 GMT

You mean you paid your minimum payment, and left a balance on it after the due date?

If yes) interest will appear on next statement

Re: No interest...error?

kayvee_ — Sat, 23 Aug 2014 19:53:23 GMT

That's the thing....no interest appeared on my statement!!

Re: No interest...error?

jsucool76 — Sat, 23 Aug 2014 19:58:01 GMT

@kayvee_ wrote:
That's the thing....no interest appeared on my statement!!

This is the statement after you left that balance?

So say your previous statement closed 7/23, and you had a balance of $500, and you paid the minimum, $25 - leaving $475 on the card

Now it is 8/23, your statement comes up, this is where your interest charge should be.

Re: No interest...error?

kayvee_ — Sat, 23 Aug 2014 20:42:26 GMT

@jsucool76 wrote:
@kayvee_ wrote:
That's the thing....no interest appeared on my statement!!
This is the statement after you left that balance?

So say your previous statement closed 7/23, and you had a balance of $500, and you paid the minimum, $25 - leaving $475 on the card

Now it is 8/23, your statement comes up, this is where your interest charge should be.

Correct, so For the example..I should have interest charges due to the $475 left on the card right? However, I have no interest charges. I think I am just going to count my blessings and sweep it under the rug.

Re: No interest...error?

jsucool76 — Sat, 23 Aug 2014 20:44:46 GMT

Odd. Look for a "balance subject to interest rate" on your statement.

Re: No interest...error?

Anonymous — Sat, 23 Aug 2014 22:20:20 GMT

@kayvee_ wrote:
@jsucool76 wrote:
@kayvee_ wrote:
That's the thing....no interest appeared on my statement!!
This is the statement after you left that balance?

So say your previous statement closed 7/23, and you had a balance of $500, and you paid the minimum, $25 - leaving $475 on the card

Now it is 8/23, your statement comes up, this is where your interest charge should be.
Correct, so For the example..I should have interest charges due to the $475 left on the card right? However, I have no interest charges. I think I am just going to count my blessings and sweep it under the rug.

Just want to make sure you get the point, since your OP talked about "this month"

So: July 1 say, your statement cuts with a $500 balance, with a due date of Jul 28. If you don't pay the $500 by Jul 28, the next statement, say Aug 1, will show the interest charges. The July statement won't, even though there is a balance as you may pay in full

Re: No interest...error?

kayvee_ — Sun, 24 Aug 2014 04:41:37 GMT

I just re-read your posts. I get it now... Too much candy crush today.LOL

thanks folks!