Cap1 and 70 cent balance is consider 0 balance

[joestay]

Hi,

Before my statement cut-off date, I paid down my balance to 70 cent.  Then, after the statement is available, it says I have a 0 balance and my full CL is available.  What's gonna happen to that 70 cent?

[Anonymous]

---

@joestay wrote:

Hi,

Before my statement cut-off date, I paid down my balance to 70 cent.  Then, after the statement is available, it says I have a 0 balance and my full CL is available.  What's gonna happen to that 70 cent?

---

Seems more and more common when leaving a balance under a $1 the creditor/lender is just reporting balance as 0. I would believe it would be in your best interest to pay the balance off, whatever it may be. No sense in risking the possibility of a late payment over 70 cents. You can also just go buy something for a few dollars and see if they increase your balance owed by 70 cents. Good Luck

[joestay]

What will "charge adjustment" do to me?  Will I have to pay it back?  I'm I good?

[trumpet-205]

It is recommended to keep balance either $0, or no less than $5. Having it in between can create confusion. Forgot to pay what you owe can easily earn yourselves a late fee along with interest.

You still owe CCC 70 cents. I recommend you call CSR to clear up the confusion.

[joestay]

man, why didn't anyone tell me this before.

[Anonymous]

It depends on your history and company with said card.

There was someone toying with this on CB by leaving small balances and I would say around half if not more would credit the account to zero and the user owed nothing further.

[Anonymous]

Sometimes companies waive very small balances (less than a dollar) because the cost to collect the small balance is greater than the amount owed.

I'd still call customer service to clarify what happened here.

[haulingthescoreup]

I'd say that your 70 cents due will show up on your next statement if you don't pay it sooner. Whoopee, finance charges on 70 cents!

When I look at the "amount available" on my AmEx or Chase or whatever, it rounds downwards upwards. So on a $5K line from AmEx, if I have $100.62 in charges, it will say that I have $4,900 available. It doesn't mean that they don't intend to get their 62 cents.

And btw, this is completely unrelated to how it shows up on your credit reports. It might show $0, it might show $1.

edit on the upwards/ downwards thing. It rounds the amount already charges down and the amount available up.

[Anonymous]

I remember reading somewhere that Cap1 only issues statements if your balance is over one dollar. So Basically if you have a zero balance and you buy a pack of M&M's at the grocery, you'll never get a statement.

[MarineVietVet]

---

@Anonymous wrote:

I remember reading somewhere that Cap1 only issues statements if your balance is over one dollar. So Basically if you have a zero balance and you buy a pack of M&M's at the grocery, you'll never get a statement.

---

If you mean a paper statement that may very well be true. I haven't had a hard copy statement mailed to me in several years. The statements are always available online each month even with a zero balance.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".