Navy FCU Statement question

[Anonymous]

Hello Everyone!
I was going to post this in the infamous NFCU thread by CA but I didnt want to clog the post up with questions not pertaining to CLIs and LOC

I was approved for a CashRewards from NFCU in the middle of November. I had the card overnighted and was charged $12 (someone told me I could request that and thought it was a good idea since we were thinking about going out of town for Thanksgiving and didnt want the card sitting in my mailbox) well a few days after after getting the card I made a payment for the $12 and it was at a 0 balance for awhile. A couple days ago I used it for $32.00. The purchase posted and last night made a purchase of $57 at the grocery store. I have the funds to cover both purchases in my shared savingd with NFCU but thought our DD will come in tonight and just pay it with that so I can save the other money. The $57 grocery store purchase is still on hold and still pending.

I checked my NFCU accounts today like I always do everyday with all my accounts and seen my first statement has been generated. Which made me happy because hopefully that neans that NFCU has started reporting. The statement cut 12/3 and it cut with the $32 balance (because the $57 was still pending) im not worried about that because its only $32 out of $12,500. My duedate is 12/28 and I dont have a minimum payment.

My question is why dont I have a minimum payment yet?? I owed $32 at the time the statement cut so I would aleast think I would owe a minimum of $20. The statement even shows the balance of $32. Of course I will pay it either way but none of my cards have ever been that way if I had a blance when my first statement cut I have always had a minimum payment. Is NFCU different? Is this normal for them with the first statement or is my account messed up? The statement says that I have a $32 balance with a minimum payment of $0 due 12/28.

Thank You everyone in advance!!

[Creditaddict]

I find a lot of times I won't have a minimum due if I had made any payments during the month. I just always pay something if not all of the statement balance regardless of minimum due because I want another payment showing for a statement!

[Anonymous]

Okay thanks CA! That makes sense, just never had a CC work that way before. No matter how much I paid in a month if I still owed when the statement cut I still had a minimum payment. This is my first card thats actually not labeled as a rebuilder card so everything is so new lol

I did make a payment of $12 since getting the card. But I know their payment threshold is $20 or 2% whatever is greater and the payment I made this month was only $12......im definitely paying both purchases off tomorrow (hopefully the $57 will be posted) but do you think I should call and ask about this or just make the payment and carry on with my life. Thanks again CA.

[kjel]

It's likely the $12 payment was counted as your regular payment. My account frequently appears with no minimum payment due because I pay my charges down every two weeks when I get paid so it always shows a big fat 0 on the screen. The paper statement also says Minimum Payment Due: None.

[Anonymous]

Okay thanks so much!! So this is common for NFCU and not just for their first statement, I also pay my CCs down or off every 2 weeks too. NFCU is definitely a different kind of lender in a good way!!!

[BlueRenew]

I had been wondering the same thing too. I rarely look at my statements since I moniter my charges through out the month. Recently I decided to look at a few of my statements and noticed on a few I had no minimum and on others I had a $20 minimum. I PIF each month so when I saw the minimum I freaked out and thought I had unknowingly been paying interest. Luckily I was wrong.

[Anonymous]

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@Anonymous wrote:
Hello Everyone!
I was going to post this in the infamous NFCU thread by CA but I didnt want to clog the post up with questions not pertaining to CLIs and LOC

I was approved for a CashRewards from NFCU in the middle of November. I had the card overnighted and was charged $12 (someone told me I could request that and thought it was a good idea since we were thinking about going out of town for Thanksgiving and didnt want the card sitting in my mailbox) well a few days after after getting the card I made a payment for the $12 and it was at a 0 balance for awhile. A couple days ago I used it for $32.00. The purchase posted and last night made a purchase of $57 at the grocery store. I have the funds to cover both purchases in my shared savingd with NFCU but thought our DD will come in tonight and just pay it with that so I can save the other money. The $57 grocery store purchase is still on hold and still pending.

I checked my NFCU accounts today like I always do everyday with all my accounts and seen my first statement has been generated. Which made me happy because hopefully that neans that NFCU has started reporting. The statement cut 12/3 and it cut with the $32 balance (because the $57 was still pending) im not worried about that because its only $32 out of $12,500. My duedate is 12/28 and I dont have a minimum payment.

My question is why dont I have a minimum payment yet?? I owed $32 at the time the statement cut so I would aleast think I would owe a minimum of $20. The statement even shows the balance of $32. Of course I will pay it either way but none of my cards have ever been that way if I had a blance when my first statement cut I have always had a minimum payment. Is NFCU different? Is this normal for them with the first statement or is my account messed up? The statement says that I have a $32 balance with a minimum payment of $0 due 12/28.

Thank You everyone in advance!!

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Wow, I joined before you and charged $237 which I paid immediately and there's still not a statement generated. 

[Anonymous]

Wow that is strange, I was surpirsed a statement was cut already, normally my statement doest cut for the first time until a month after I was approved for the card. I was hoping they would report before that but didnt think I would get a statement a little over 2 weeks after opening the card. Im sure your will cut soon maybe in the next day or two!

I was scared to use my card at first because of the limit but im slowly getting use to it now lol and Of course the time I decide to finally use it the statement cuts on me lol (im not to worried about it tho)

Has it started reporting yet for you MomTimes7? I checked CK on the 2nd and it wasnt there yet. I know sometimes cards start to report before the first statement cuts.