Need help understanding APR

[Anonymous]

As a person who always pays in full, I unfortunately have to carry a $200 balance this month. How does the APR thing work out? So once my statement cuts with $200 would I start accruing interest since I no longer have 0% APR on the card? Or is it that if I pay off the full amount by my due date that I'll have to pay no interest? Thanks!

[Anonymous]

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@Anonymous wrote:

As a person who always pays in full, I unfortunately have to carry a $200 balance this month. How does the APR thing work out? So once my statement cuts with $200 would I start accruing interest since I no longer have 0% APR on the card? Or is it that if I pay off the full amount by my due date that I'll have to pay no interest? Thanks!

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You would need to pay the full amount by the due date to avoid interest charges. If you don't, you will be charged interest from date of purchase on all new purchases as well as interest on any balance that you carried.. Hope that makes sense

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

As a person who always pays in full, I unfortunately have to carry a $200 balance this month. How does the APR thing work out? So once my statement cuts with $200 would I start accruing interest since I no longer have 0% APR on the card? Or is it that if I pay off the full amount by my due date that I'll have to pay no interest? Thanks!

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You would need to pay the full amount by the due date to avoid interest charges. If you don't, you will be charged interest from date of purchase on all new purchases as well as interest on any balance that you carried.. Hope that makes sense

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Right, "normal" people avoid interest by paying the statement balance before the due date.   Only places like here have people paying before the statement cuts.

[kdm31091]

As long as you pay the statement balance before the due date you will not be charged interest. There is usually a period of ~25-28 days. That's your grace period. After that, interest will accrue.

[Anonymous]

Just a helpful tip...

For unplanned large purchases (or purchases you can slightly plan), a good way to extend the interest-free period is to make the purchase the day after your statement cuts.

I just had to buy a new mattress/box spring and hadn't accounted for the expense. The day I made the purchase, I realized "oh right, my Barclaycard statement cut yesterday," so I put it on my Aviator. I'll have ~60 days to pay it off without accruing interest... the statement cut the 17th, i purchased the set on the 18th, the next statement won't cut until the 17th of October (reflecting the remainder of the balance), and the bill won't be due until November 17th. Assuming it's all paid off, it's essentially 60 days interest free.

[Anonymous]

Thanks everyone! I fully understand it now!