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@lolabelle wrote:
Does this make sense? I have no minimum finance charge on this card, so should be $0 where there is no balance. Last month, I had a large balance. I paid it in full on 10/15 (before the last payment was due). Statement closing date was 11/2. Payment due date is 11/29. Today I receive a bill for a finance charge of $31 and change. What am I missing?
Thanks for the response. I'm not sure what that means. The statement says:
Previous balance = $5,300
Purchases and Adjustment = 0
Periodic Rate Finance Charges = $31.01
Days in Billing Cycle = 32
Closing Date = 11/02/09
Payment Due Date = 11/29/09
On statement, it says Payment of $5,300 was made on 10/16, bringing account to $0 balance.
@lolabelle wrote:Thanks for the response. I'm not sure what that means. The statement says:
Previous balance = $5,300
Purchases and Adjustment = 0
Periodic Rate Finance Charges = $31.01
Days in Billing Cycle = 32
Closing Date = 11/02/09
Payment Due Date = 11/29/09
On statement, it says Payment of $5,300 was made on 10/16, bringing account to $0 balance.
btw, welcome to the forum.
Did you pay in full i.e. pay the statement balance of the previous month before the due date?
@lolabelle wrote:Thanks for the response. I'm not sure what that means. The statement says:
Previous balance = $5,300
Purchases and Adjustment = 0
Periodic Rate Finance Charges = $31.01
Days in Billing Cycle = 32
Closing Date = 11/02/09
Payment Due Date = 11/29/09
On statement, it says Payment of $5,300 was made on 10/16, bringing account to $0 balance.
The previous statement would have closed about 10/2/09 and the payment due at that time included interest through 10/2.
The $31.01 on the 11/2 statement would be interest accrued on the balance from about 10/2 until your payment on 10/16 ...