@Simply827 wrote:This is slightly off topic but still related.
How do I avoid paying interest? Must I pay the statement balance or the current balance?
For instance..I paid statement balance of $200. I make another $100 of purchases before statement cuts. Do I owe interest on the $100 or am I good as long as I pay it off by the next due date. In order to avoid interest, do I have to pay at least the statement balance of $200 or must I PIF the $300?
What ever amount appears on your statement will collect interest if not PIF, to make it as simple as possible.
Usually all pending charges (Depending on when they were made) clear for the statement cut, so likely you'd end up paying $300 in that case.
Edit: Beaten to the punch. 
(Also I forgot about garbage tier lenders like charge interest immediately)
@Simply827 wrote:This is slightly off topic but still related.
How do I avoid paying interest? Must I pay the statement balance or the current balance?
For instance..I paid statement balance of $200. I make another $100 of purchases before statement cuts. Do I owe interest on the $100 or am I good as long as I pay it off by the next due date. In order to avoid interest, do I have to pay at least the statement balance of $200 or must I PIF the $300?
To not pay interest, you have to pay the statement balance in full before the grace period expires, and not use cash advance. 
If you are curious about the way interest is assessed, feel free to check out my blog post: http://hiepsfinance.com/2013/06/02/why-is-your-credit-card-bill-so-huge-how-credit-card-interest-is-...
@b_seeker wrote:(Also I forgot about garbage tier lenders like charge interest immediately)
You must be referring to First Premier 
@HiLine wrote:Assuming the credit card issuer doesn't cancel the bill, you'll get charged interest only if you don't pay off the 1 penny balance by the end of the grace period, assuming you have no balance carried over from the previous statement. And if you get charged interest, the amount will be about 0.000005 dollar per day.
Don't get yourself into a debt spiral.
I think you're getting this assuming the interest on a $0.01 balance. That's not typically how it works. If you PIF by the due date, then there is no interest. However, it is kind of an all or nothing thing. If you fail to PIF, you get charged interest and then you have to look at how they charge interest. IIRC it isn't against your remaining balance, i.e., $0.01, but the average daily balance or something like that. So leaving a penny could end up costing you quite a bit.
Starting Score: ~500 (12/01/2008)You're absolutely right. I don't know why I wrote that. 
The interest would be assessed on the average daily balance, not on just the unpaid amount. So yes, leaving 1 penny unpaid can result in an unexpectedly large interest charge. Assuming the an average daily balance of $300, the interest amount would be around 15 cents a day, not a fraction of a penny like I had said earlier. 
@Rackham94 wrote:If I schedule a payment of 304.12 on a balance of 304.13 would there be any interest charges on 0.01?
Want to leave a balance so it can report.
I've been told that if the balance is less than $1, that many CCC will report $0. Also, for FICO score purposes, FICO will not credit usage for less than 0.5%, as it rounds off. So 1-cent will not help your utilization score since it will be seen as zero and not 1%.
