Are there any cards left that don't charge residual interest?

[CreditFun]

Interesting.

I was carrying a balance.  Paid in full before the cycle cut date. 

Have an entry on my statement cut yesterday, Interest Charge on Purchases $0.00. 

Maybe they make another line in a few days that says residual interest for next months statement? Or a YMMV?

[FinStar]

---

@CreditFun wrote:

Interesting.

I was carrying a balance.  Paid in full before the cycle cut date. 

Have an entry on my statement cut yesterday, Interest Charge on Purchases $0.00. 

Maybe they make another line in a few days that says residual interest for next months statement? Or a YMMV?

---

Any residual interest (if applicable) is shown once the next statement cycle generates.

[CreditMagic7]

Paid my comical $1.00 residual and quickly enough reflected a day later by displaying full credit limit again without that balance.

From now on it's simple enough to overpay a few dollars and let them enjoy spending more for processing a paper check on overage plus envelope and postage. It's a bunch of hot air if you ask me but their books will satisfy the zero clearance for them.

[805orbust]

@CreditMagic7 see this is why the little voice in my head is urging me to pare down my portfolio of cards. Imagine you miss something like this and go 30 days? 120 points gone. Although autopay is your friend even that is not 100% reliable. 

[CreditMagic7]

---

@805orbust wrote:

@CreditMagic7 see this is why the little voice in my head is urging me to pare down my portfolio of cards. Imagine you miss something like this and go 30 days? 120 points gone. Although autopay is your friend even that is not 100% reliable. 

---

Its been years now (no Barclay cards) but just when i thought a balance was PIF and clear came the statement many days later with a balance that burned my tail. (when PIF i expect end of charge),  That right there led me to eventually close my account with them. 

[EAJuggalo]

I can tell you from personal experience in the last 6 weeks that trailing interest is a thing with CapOne, Chase, Amex, Citi and Discover.  The only lender that did not charge me trailing interest when I paid them off with my consolidation loan was Synchrony on my Amazon card.

[Anonymous]

---

@CreditMagic7 wrote:

---

(when PIF i expect end of charge),  That right there led me to eventually close my account with them. 

---

But to some extent, that is not a reasonable expectation.  The balance on the statement reflects the interest due up to the date of the statement, and not any interest that accumulates between then and the time you pay.

Now if credit cards didn't have a grace period ever this would be well understood, you pay interest from the time you make the purchase till the time you pay for the purchase.  But most cards have a grace period for purchases if you PIF.  But that's just a rule with conditions, and when you break the conditions, residual/trailing interest makes sense.

It's the same when paying off a mortgage, and I don't see the same angst over that!   If you just paid off the balance of the last statement, that usually isn't enough, and you have to ask for a closing statement (and then they give you an amount assuming you pay by a certain time)

[FinStar]

---

@Anonymous wrote:

---

@CreditMagic7 wrote:

---

(when PIF i expect end of charge),  That right there led me to eventually close my account with them. 

---

But to some extent, that is not a reasonable expectation.  The balance on the statement reflects the interest due up to the date of the statement, and not any interest that accumulates between then and the time you pay.

Now if credit cards didn't have a grace period ever this would be well understood, you pay interest from the time you make the purchase till the time you pay for the purchase.  But most cards have a grace period for purchases if you PIF.  But that's just a rule with conditions, and when you break the conditions, residual/trailing interest makes sense.

It's the same when paying off a mortgage, and I don't see the same angst over that!   If you just paid off the balance of the last statement, that usually isn't enough, and you have to ask for a closing statement (and then they give you an amount assuming you pay by a certain time)

---

Plus, if one leverages 'float' to their advantage, then there's not going to be any residual interest.

[Jshepherd04]

NFCU does trailing interest also. I paid a balance off a couple months ago and then next statement had a $0.14 balance.

[AverageJoesCredit]

---

@Jshepherd04 wrote:

NFCU does trailing interest also. I paid a balance off a couple months ago and then next statement had a $0.14 balance.

---

Yes, i recently bt'd away my balance on my Navy Plat  to PF. Paid to 0. Luckily. I sign in quite often to check my balances and a statement cut with $11 lol. Paid it for sure. Even after i btd away all my Dads debt to my Navy card i told him to keep checking those cards for trailing interest until he sees 0 owed.