Does my 0 Intro APR really work??

[vwgrrc]

OK guys. I just got my first Amex BCE statement tonight but something caught my eyes there! I don't know how to post a pic so I copied it like this:

New Balance $106.73

Minimum Payment Due $35

If you make no additional charges and each month you pay...Only the Minimum Payment Due

You will pay off the balance shown on this statement in about...4 months 

And you will pay an estimated total of...$107

I was confused by the difference between the two amount marked as blue. I suppose to have a 15-month 0 APR. How come i could end up with paying $107 in total instead of $106.73? Even though 27 cents is a forgetable amount for me, I just want to know the real interpretation of intro APR. I assumed there won't be any extra fee or charge if I paid the minimum before due date. Correct me please~ Thanks!

[Creditaddict]

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@vwgrrc wrote:

OK guys. I just got my first Amex BCE statement tonight but something caught my eyes there! I don't know how to post a pic so I copied it like this:

New Balance $106.73

Minimum Payment Due $35

If you make no additional charges and each month you pay...Only the Minimum Payment Due

You will pay off the balance shown on this statement in about...4 months 

And you will pay an estimated total of...$107

I was confused by the difference between the two amount marked as blue. I suppose to have a 15-month 0 APR. How come i could end up with paying $107 in total instead of $106.73? Even though 27 cents is a forgetable amount for me, I just want to know the real interpretation of intro APR. I assumed there won't be any extra fee or charge if I paid the minimum before due date. Correct me please~ Thanks!

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[enharu]

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@vwgrrc wrote:

OK guys. I just got my first Amex BCE statement tonight but something caught my eyes there! I don't know how to post a pic so I copied it like this:

New Balance $106.73

Minimum Payment Due $35

If you make no additional charges and each month you pay...Only the Minimum Payment Due

You will pay off the balance shown on this statement in about...4 months 

And you will pay an estimated total of...$107

I was confused by the difference between the two amount marked as blue. I suppose to have a 15-month 0 APR. How come i could end up with paying $107 in total instead of $106.73? Even though 27 cents is a forgetable amount for me, I just want to know the real interpretation of intro APR. I assumed there won't be any extra fee or charge if I paid the minimum before due date. Correct me please~ Thanks!

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they probably just rounded it up. since it's an estimate, afterall.

[takeshi74]

It's rounded up.  It's very unlikely that any APR would put you at an even dollar amount.  If in doubt you could do the math using the regular APR they approved you for and see if it would result in 27 cents.

@vwgrrc wrote:

I assumed there won't be any extra fee or charge if I paid the minimum before due date.

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...and paid off the balance before the offer expires.