Is this paying off a CC...

[Anonymous]

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@Brian_Earl_Spilner wrote:

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@dragontears wrote:

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@Andy77 wrote:

I know a PIF is paying the entire balance when the statement cuts, but because I am paying the entire previous statement balance within the new statement cycle, I would believe that I paid the prior balance in full.

What am I missing here ?

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You are not missing anything, the previous posters are confusing paying in full and reporting 0 balance. 

Technically as long as you are paying the statement balance in full before the due date you are "PIF", it is just the obsession with AZEO that confuses some.

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There's no confusion. OP asked if the card would be paid off. There's a balance of $500 on next statement so card isn't paid off. If the question is would they consider the statement paid, then yes, it's paid. It's not just semantics. A 0 balance is needed to put the grace period back in place. Paying off a statement won't do that, paying off a card will.

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I don't believe that is true. I have multiple cards that report a balance at the statement close then I pay the full statement balance by the next payment due date. During that time period I make new charges and the card never hits a 0 balance and I don't pay interest.

From my understanding, as long as the statement balance is PIF by the due date (which coincides with the end of the grace period) there are no interest charges, regardless of new purchase activity post statement closing. Are there any cards where this is not true?

[coldfusion]

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@Anonymous wrote:

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@Brian_Earl_Spilner wrote:

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@dragontears wrote:

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@Andy77 wrote:

I know a PIF is paying the entire balance when the statement cuts, but because I am paying the entire previous statement balance within the new statement cycle, I would believe that I paid the prior balance in full.

What am I missing here ?

---

You are not missing anything, the previous posters are confusing paying in full and reporting 0 balance. 

Technically as long as you are paying the statement balance in full before the due date you are "PIF", it is just the obsession with AZEO that confuses some.

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There's no confusion. OP asked if the card would be paid off. There's a balance of $500 on next statement so card isn't paid off. If the question is would they consider the statement paid, then yes, it's paid. It's not just semantics. A 0 balance is needed to put the grace period back in place. Paying off a statement won't do that, paying off a card will.

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I don't believe that is true. I have multiple cards that report a balance at the statement close then I pay the full statement balance by the next payment due date. During that time period I make new charges and the card never hits a 0 balance and I don't pay interest.

From my understanding, as long as the statement balance is PIF by the due date (which coincides with the end of the grace period) there are no interest charges, regardless of new purchase activity post statement closing. Are there any cards where this is not true?

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Nowadays you typically would see that on a fee harvester card.   I know that (at least some) Credit One cards had no grace period, don't know if that's still the case. 

[longtimelurker]

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@Anonymous wrote:

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@Brian_Earl_Spilner wrote:

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@dragontears wrote:

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@Andy77 wrote:

I know a PIF is paying the entire balance when the statement cuts, but because I am paying the entire previous statement balance within the new statement cycle, I would believe that I paid the prior balance in full.

What am I missing here ?

---

You are not missing anything, the previous posters are confusing paying in full and reporting 0 balance. 

Technically as long as you are paying the statement balance in full before the due date you are "PIF", it is just the obsession with AZEO that confuses some.

---

There's no confusion. OP asked if the card would be paid off. There's a balance of $500 on next statement so card isn't paid off. If the question is would they consider the statement paid, then yes, it's paid. It's not just semantics. A 0 balance is needed to put the grace period back in place. Paying off a statement won't do that, paying off a card will.

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I don't believe that is true. I have multiple cards that report a balance at the statement close then I pay the full statement balance by the next payment due date. During that time period I make new charges and the card never hits a 0 balance and I don't pay interest.

From my understanding, as long as the statement balance is PIF by the due date (which coincides with the end of the grace period) there are no interest charges, regardless of new purchase activity post statement closing. Are there any cards where this is not true?

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That is true on cards with grace periods.  @Brian_Earl_Spilner was referring to when the grace period has gone away (because the bill wasn't PIF by due date).  Then usually it takes two periods of 0 balance to restore the grace period, as all charges start having interest charged once grace period has gone.

[Remedios]

This is not helping OP. 

[Kforce]

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@Remedios wrote:

This is not helping OP. 

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     " Par for the course "