DISCOVER IT What is THIS!?

[Anonymous]

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@mongstradamus wrote:

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@Anonymous wrote:

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@Anonymous wrote:

For a more full descriptoin: it is apparent that you had not paid in full from the previous statement. That ends the grace period and starts interest accruing on a daily basis. You would need to check online or overpay in order to wipe out the interest and reinstate the grace period. You might be able to see what the current amount is within your online account.

I would call Discover and explain the situation. Maybe they waive that additional interest fee. If not, you can ask what the current, up to the day balance is and pay it off, then refrain from charging until the end of the month to prove that the statement is cut at $0 and that no more interest is accruing. 

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I  paid before the statement cuts so it reports $0 and not carry a balance. 

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did you pay your min due? Usually that is due before statement cuts. 

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i paid IN FULL. i paid it off. is that link not showing up ? i posted picture of my statement. looks like this ...

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Previous balance:            $1,490.09

Payments and Credits:  - $1,490.09

Purchases:                    +$0.00
Balance Transfers:        +$0.00

Cash Advances:            +$0.00

Fees Charged:              +$0.00

Interest Charged:         +$26.80

New Balance:                $26.80

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Payments and Credits

Oct 24 -  INTERNET PAYMENT - $200

Nov 19 - PAYMENT - THANK YOU - $1,200

Nov 20 - INTERNET PAYMENT  - $90.09

Fees         

TOTAL FEES FOR THIS PERIOD                              $0.00

Interest Charges

INTEREST CHARGE ON PURCHASES:                     $26.80

INTEREST CHARGE ON CASH ADVANCES:             $0.00

INTEREST CHARGE ON BALANCE TRANSFERS:    $0.00

TOTAL INTEREST FOR THIS PERIOD:                      $26.80 

2014 Total Year-to-Date

TOTAL FEES CHARGED IN 2014:                               $0.00

TOTAL INTEREST CHARGED IN 2014:                       $26.80

[CreditCuriosity]

Don't have to conveince us, give them a call!

[Anonymous]

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@Anonymous wrote:

I don't understand how i incurred interest on a $0 balance ? 

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Here are edited pictures. OP please remove those links. They contain profanity which is not allowed on the forums.

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[slicemans]

CALL DISCOVER NO ONE HERE CAN HELP YOU HERE

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I don't understand how i incurred interest on a $0 balance ? 

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Here are edited pictures. OP please remove those links. They contain profanity which is not allowed on the forums.

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which links  ?  where ?  i think i deleted them if you were referring to the links that i posted with the pictures but didn't know contain profanity 

[Anonymous]

Yes, you paid in full by the time the statement cut, but Discover compounds interest daily. So you had a balance of approximately 1,500. But you didn't really pay for most of it until around Day 15 of the billing period. So that means, from Day 1 - Day 14 of that cycle, you were accumulating interest daily.

Does that make sense?

[rlx01]

@Credit_Dominion: that's misleading. You don't know his due date.

[Anonymous]

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@rlx01 wrote:
@Anonymous: that's misleading. You don't know his due date.

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Even so. theoretically speaking, in this one billing cycle, you could see he made three different payment spread throughout the cycle. And considering he paid a bulk of that weeks after his first payment of $200, that's already a couple weeks of accumulating interest of the remaining $1290.09

[lord_kinbote]

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@Anonymous wrote:

Yes, you paid in full by the time the statement cut, but Discover compounds interest daily. So you had a balance of approximately 1,500. But you didn't really pay for most of it until around Day 15 of the billing period. So that means, from Day 1 - Day 14 of that cycle, you were accumulating interest daily.

Does that make sense?

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No that does not make sense to me.  If he PIF'd before the due date, why would there be interest?  Interest is only incurred AFTER the due date, not before.  From what I read in your post, it sounds like you are trying to say if one makes a charge on their credit card, they immediately start accruing interest - and that is simply not the case, unless it was a cash advance.

OP, why the delay?  Let's hear it from the horses mouth - aka Discover.

[Anonymous]

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@akula wrote:

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@Anonymous wrote:

Yes, you paid in full by the time the statement cut, but Discover compounds interest daily. So you had a balance of approximately 1,500. But you didn't really pay for most of it until around Day 15 of the billing period. So that means, from Day 1 - Day 14 of that cycle, you were accumulating interest daily.

Does that make sense?

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No that does not make sense to me.  If he PIF'd before the due date, why would there be interest?  Interest is only incurred AFTER the due date, not before.  From what I read in your post, it sounds like you are trying to say if one makes a charge on their credit card, they immediately start accruing interest - and that is simply not the case, unless it was a cash advance.

OP, why the delay?  Let's hear it from the horses mouth - aka Discover.

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that's what i said!   i'll report back