Statement Balance Higher than Current Balance

[GeminiGemNC]

My statement balance is higher than my current balance due to a credit. I paid the current balance last week and I'm trying to figure out if I will have interest due to not paying the full statement balance.

As of today, I have a $34 balance. Do I need to have a zero balance on the due date to not incur interest?

[frugal47374]

Which credit card and what was the nature of the credit?  Both answers can be a factor here.

I've been "tricked" in the past and, in general, I'd make sure I paid the statement balance.

[GeminiGemNC]

It's on a Capital One Quicksilver card and the credit was a $1,000 deposit that was refunded. Sorry for leaving out that information. I've always paid the statement balance to avoid interest and I'm not sure what to do in this situation. 

Thanks!

[Remedios]

Capital One only allows small overpayment, I think it's 10% or something like that 

I doubt very much it would allow you to pay $1034.00 since $1000.00 was credited back. 

Pay current balance, that's all that you need. Lender will not go back and "correct" statements, what you owe is reflected in current balance. Paying statement balance would only perpetuate credit you already have 

[GeminiGemNC]

Thank you! 

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@Remedios wrote:

Capital One only allows small overpayment, I think it's 10% or something like that 

I doubt very much it would allow you to pay $1034.00 since $1000.00 was credited back. 

Pay current balance, that's all that you need. Lender will not go back and "correct" statements, what you owe is reflected in current balance. Paying statement balance would only perpetuate credit you already have 

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[GatorGuy]

I always pay the statement date by the due date. Sometimes the current balance will go negative because if credit like this. 

[GeminiGemNC]

I don't use that card often because I don't like the app. The Chase app is much easier to know exactly how much is owed without interest... And has the same 1.5% reward. 

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@GatorGuy wrote:

I always pay the statement date by the due date. Sometimes the current balance will go negative because if credit like this. 

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[SouthJamaica]

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@GeminiGemNC wrote:

My statement balance is higher than my current balance due to a credit. I paid the current balance last week and I'm trying to figure out if I will have interest due to not paying the full statement balance.

As of today, I have a $34 balance. Do I need to have a zero balance on the due date to not incur interest?

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I would work on the assumption that you do need to pay off the whole statement balance. I wouldn't take chances.

[Remedios]

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@SouthJamaica wrote:

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@GeminiGemNC wrote:

My statement balance is higher than my current balance due to a credit. I paid the current balance last week and I'm trying to figure out if I will have interest due to not paying the full statement balance.

As of today, I have a $34 balance. Do I need to have a zero balance on the due date to not incur interest?

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I would work on the assumption that you do need to pay off the whole statement balance. I wouldn't take chances.

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They cannot because Cap One will not allow it. They will get a message like this 

I understand the need for caution but you cannot pay what was credited already. 

@GeminiGemNC  give it a try and you'll see. 

When you receive statement credit like OP did, amount simply isn't there any longer. 

[GeminiGemNC]

I did get that message. I'll try calling them tomorrow. I'm hoping it's fine that I paid the balance to zero since the statement was sent.

Thanks for the advice!

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@Remedios wrote:

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@SouthJamaica wrote:

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@GeminiGemNC wrote:

My statement balance is higher than my current balance due to a credit. I paid the current balance last week and I'm trying to figure out if I will have interest due to not paying the full statement balance.

As of today, I have a $34 balance. Do I need to have a zero balance on the due date to not incur interest?

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I would work on the assumption that you do need to pay off the whole statement balance. I wouldn't take chances.

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They cannot because Cap One will not allow it. They will get a message like this 

I understand the need for caution but you cannot pay what was credited already. 

@GeminiGemNC  give it a try and you'll see. 

When you receive statement credit like OP did, amount simply isn't there any longer. 

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