cancel
Showing results for 
Search instead for 
Did you mean: 

Question about PIF

tag
icyhot
Valued Contributor

Question about PIF

My last statement balance on my CSP was $3600, bill got up to $3900 on which I've just paid off. Now I've charged about $60 and all the purchases haven't cleared but the statement cuts on the 6th. If I PIF the statement balance after it cuts will I be charged interest on the last balance, or the smaller balance? Or will I be charged interest at all? Does it look good to banks to make payments of your entire statement balance after it clears? I'm not really concerned with the balance reporting since most of my cards are at 0. Thanks
Ch 7 BK discharged 12/2018
Bank Cards: NFCU Flagship Rewards $25K | NFCU Cash Rewards $20K |NFCU More Rewards Amex $17K | PenFed Power Cash $12.5K | PenFed Platinum Rewards $12.5K | PenFed Pathfinder Rewards $10K | PenFed Gold Card $7.5K | PayPal Cashback Mastercard $5K | Apple Card $3.5K
Store Cards: Bergdorf Goodman $10.5K | Neiman Marcus $7.5K | Care Credit $7K |
Scores: EX 656 | EQ 667 | TU 680


Goal Card: Amex Platinum (Amex IIB, waiting for 5 year mark)
Message 1 of 4
3 REPLIES 3
jm1991
Regular Contributor

Re: Question about PIF

as long as you paid the 3600 or more then you are good. 

Marriott Premier SV: $8,500 Amex blue sky: $24,000 BoA BBR: $3,900 BoA Cash Rewards: $9,100 Ritz Carlton: $5,000 Discover: $5,000
MyFico Score:752
Message 2 of 4
icyhot
Valued Contributor

Re: Question about PIF

I already paid the $3600 balance, once my statement cuts the balance will be about $60
Ch 7 BK discharged 12/2018
Bank Cards: NFCU Flagship Rewards $25K | NFCU Cash Rewards $20K |NFCU More Rewards Amex $17K | PenFed Power Cash $12.5K | PenFed Platinum Rewards $12.5K | PenFed Pathfinder Rewards $10K | PenFed Gold Card $7.5K | PayPal Cashback Mastercard $5K | Apple Card $3.5K
Store Cards: Bergdorf Goodman $10.5K | Neiman Marcus $7.5K | Care Credit $7K |
Scores: EX 656 | EQ 667 | TU 680


Goal Card: Amex Platinum (Amex IIB, waiting for 5 year mark)
Message 3 of 4
Anonymous
Not applicable

Re: Question about PIF


@icyhot wrote:
I already paid the $3600 balance, once my statement cuts the balance will be about $60

The rule is pretty simple!   If you pay the statement balance by the due date FOR THAT STATEMENT, you will avoid interest  (assuming no cash advance etc).   So once your new statement cuts with a $60 balance, you only need to pay $60 by the due date to avoid interest, even if you charge $10,000 in between statement cut and due date.

Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.