Avoiding Interest. Some Clarification please.

[OniStringer]

Fairly new to making sure I pay in full, avoid interest and truly benefit from CC's after the major part of my rebuild.

Looking at my own card, as of today, for the basis of at least avoiding interest, I would only need to pay the statement balance, by the date due right? Ill provide an image below for reference.

But from what I understand, the statement balance was cut, assuming from Feb-Mar, on the March 9 of $802,  so I then would have until April 9 to pay that before interest is accrued on the amount right? Just want to make sure I understand this correct for the future. Thanks for  any help.

[coldfusion]

You need to have payment of 802.54 (the statement balance) posted by April 6th (the actual due date). 

[TheRedHat]

Yes. That would be correct. As long as you pay the statement balance by the due date each month, you will pay $0 in interest.

[OniStringer]

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@coldfusion wrote:

You need to have payment of 802.54 (the statement balance) posted by April 6th (the actual due date). 

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Oh duh, i guess that would be right lol Appreciate the clarity though!

Also thanks to @TheRedHat 

[Anonymous514]

I had a 2$ interest charge from Macy's this month despite paying in full I too suck at this kind of thing lmao. 

[coldfusion]

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@Anonymous514 wrote:

I had a 2$ interest charge from Macy's this month despite paying in full I too suck at this kind of thing lmao. 

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That might have been trailing interest.  Did you carry a balance at all recently? 

[SouthJamaica]

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@OniStringer wrote:

Fairly new to making sure I pay in full, avoid interest and truly benefit from CC's after the major part of my rebuild.

Looking at my own card, as of today, for the basis of at least avoiding interest, I would only need to pay the statement balance, by the date due right? Ill provide an image below for reference.

But from what I understand, the statement balance was cut, assuming from Feb-Mar, on the March 9 of $802,  so I then would have until April 9 to pay that before interest is accrued on the amount right? Just want to make sure I understand this correct for the future. Thanks for  any help.

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No you have until April 6th to pay it.

[GTS]

@OniStringer 

Also something to consider is if you have cashback and you use it as a statement credit it doesn't count towards the statement due. For example if the statement balance was $200 and u used $50 cashback towards your bill you still owe $200. That cashback is only applied to new purchases.

[Anonymous]

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@GTS wrote:

@OniStringer 

Also something to consider is if you have cashback and you use it as a statement credit it doesn't count towards the statement due. For example if the statement balance was $200 and u used $50 cashback towards your bill you still owe $200. That cashback is only applied to new purchases.

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I don't think that is quite true.  Generally, the cashback can't be used as minimum payment, so you would have to pay that, but you owe $150 (- whatever min payment you make)

[Remedios]

It really depends on a lender 

As an example, Disco allows cash back to be used as "payment", so in that example if cash back is used in the amount of minimum payment or more, monthly obligation is satisfied (you'd still have interest if cash back didnt cover entire statement balance). 

Amex expects minimum payment in addition to any cash back redeemed for statement credit. If minimum payment is $35.00 and you have $35.00 in cash back, you still need to pay. With them, redemptions reduce statement balance and/or balances on current charges but at least minimum payment must be made regardless of how much cash back is redeemed. 

Unless one is certain on lender policies, don't mess with redemptions without making payments.