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if my statment balance is 1000 and it due by Feb 7th. I have 200 in cash back that i wanted to use as a statement credit. Does the cash back count as a payment or would i still need to pay the statment balance of 1000 in order not to be charged intrest ?
As long as it credits by the due date, it counts as an additional payment. If you had zero balance after payment and statement credit, there would be no interest. The one important thing to know is that statement credits usually do not count toward a minimum payment.
The statement credit doesnt count as your "payment" for the month. So, still make a payment.
@randy230k wrote:The statement credit doesnt count as your "payment" for the month. So, still make a payment.
I got that part i just want to make sure i only have to make the 800 payment and not the full statement balance of 1000 with out getting charged the interest.
Oops, sorry. Yea, as long as everything is in the same statement, just the 800 should do it.
@randy230k wrote:Oops, sorry. Yea, as long as everything is in the same statement, just the 800 should do it.
great ! thank you
@Anonymous wrote:
@randy230k wrote:The statement credit doesnt count as your "payment" for the month. So, still make a payment.
I got that part i just want to make sure i only have to make the 800 payment and not the full statement balance of 1000 with out getting charged the interest.
Yes as long as you do it soon enough