Trailing interest question // U.S. Bank Altitude Go after 0% 12 month APR SUB

[portlandmusician]

In August of 2021 I got a U.S. Bank Altitude Go.  It came with a 12 month 0% APR deal.  The deal ended with "8/22 statement."  The 8/22 statement cut on August 3rd and payment is due September 3rd.

If I pay it in full by September 3rd, there will be no interest on the next statement, right?  When it said ending with "8/22 statement,' when the August statement cut, as long as I paid it in full by the due date, I won't have interest?  Or, since the August statement cut, and it wasn't paid, will I have trailing interest because it wasn't paid by the August statement cutting?

Thanks.

[K-in-Boston]

If the promotional balance expired August 3rd, it began accruing interest on August 4th.  You can verify the date of the promo end date by looking at previous statements where it breaks down interest rates and which balances apply to them.

[Remedios]

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@portlandmusician wrote:

In August of 2021 I got a U.S. Bank Altitude Go.  It came with a 12 month 0% APR deal.  The deal ended with "8/22 statement."  The 8/22 statement cut on August 3rd and payment is due September 3rd.

If I pay it in full by September 3rd, there will be no interest on the next statement, right?  When it said ending with "8/22 statement,' when the August statement cut, as long as I paid it in full by the due date, I won't have interest?  Or, since the August statement cut, and it wasn't paid, will I have trailing interest because it wasn't paid by the August statement cutting?

Thanks.

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As long as you pay in full by due date, there will be no interest.

The "box" on the statement tells you when promo expires, but you still have grace period intact. Anything not paid by the due date will be subject to interest charges. 

[portlandmusician]

@K-in-Boston Thank you for your reply.  I appreciate it.  Even on the August statement it still says 0% on interest for purchase.  But says it ends with statement 8/2022.

[portlandmusician]

@Remedios Awesome. Thank you very much.  I have it all paid off, before the due date of September 3rd, so I should be fine.  Much apprecaited on your reply and information.

[CashOutReFi]

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@K-in-Boston wrote:

If the promotional balance expired August 3rd, it began accruing interest on August 4th.  You can verify the date of the promo end date by looking at previous statements where it breaks down interest rates and which balances apply to them.

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Not to get off topic for long, but what is/was your job that you were able to get Titanium Elite status with Marriott? (And apparently make all the travel rewards cards worth it, as well?) 75 nights a year is no joke! 

[K-in-Boston]

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@CashOutReFi wrote:

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@K-in-Boston wrote:

If the promotional balance expired August 3rd, it began accruing interest on August 4th.  You can verify the date of the promo end date by looking at previous statements where it breaks down interest rates and which balances apply to them.

---

Not to get off topic for long, but what is/was your job that you were able to get Titanium Elite status with Marriott? (And apparently make all the travel rewards cards worth it, as well?) 75 nights a year is no joke! 

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Keeping Titanium for 2023 isn't looking promising (Platinum already in the bag; if there is another promo I can probably make Titanium happen though), but basically it was obtained from doing leisure travel like it was my job. 😂 Extra elite nights from credit cards (you can get 15 for personal and 15 for business) and particularly occasional promos for double elite night credits helped.  In 2019 (for 2020) I could have hit Ambassador but didn't meet the $20k spend part (pre-tax/fees with Marriott properties, not CC spending).  In 2020 and 2021, Marriott also gave some free nights to help elites stay on track during the height of the pandemic for 2021 and 2022.

Back to the subject at hand, I'll defer to Remedios as she is far more knowledgeable than I about all things US Bank related.  With other lenders in my experience, interest definitely starts to accrue for expired BTs on the day the statement cuts when the promo is scheduled to end, so that's why my answer is contradictory.  That's a welcome thing if there is a grace period as it adds nearly an extra month.

[Remedios]

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@K-in-Boston wrote:

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@CashOutReFi wrote:

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@K-in-Boston wrote:

If the promotional balance expired August 3rd, it began accruing interest on August 4th.  You can verify the date of the promo end date by looking at previous statements where it breaks down interest rates and which balances apply to them.

---

Not to get off topic for long, but what is/was your job that you were able to get Titanium Elite status with Marriott? (And apparently make all the travel rewards cards worth it, as well?) 75 nights a year is no joke! 

---

Keeping Titanium for 2023 isn't looking promising (Platinum already in the bag; if there is another promo I can probably make Titanium happen though), but basically it was obtained from doing leisure travel like it was my job. 😂 Extra elite nights from credit cards (you can get 15 for personal and 15 for business) and particularly occasional promos for double elite night credits helped.  In 2019 (for 2020) I could have hit Ambassador but didn't meet the $20k spend part (pre-tax/fees with Marriott properties, not CC spending).  In 2020 and 2021, Marriott also gave some free nights to help elites stay on track during the height of the pandemic for 2021 and 2022.

Back to the subject at hand, I'll defer to Remedios as she is far more knowledgeable than I about all things US Bank related.  With other lenders in my experience, interest definitely starts to accrue for expired BTs on the day the statement cuts when the promo is scheduled to end, so that's why my answer is contradictory.  That's a welcome thing if there is a grace period as it adds nearly an extra month.

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Color me polka dotted orange, but where did they mention BT?  

[K-in-Boston]

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@Remedios wrote:

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@K-in-Boston wrote:

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@CashOutReFi wrote:

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@K-in-Boston wrote:

If the promotional balance expired August 3rd, it began accruing interest on August 4th.  You can verify the date of the promo end date by looking at previous statements where it breaks down interest rates and which balances apply to them.

---

Not to get off topic for long, but what is/was your job that you were able to get Titanium Elite status with Marriott? (And apparently make all the travel rewards cards worth it, as well?) 75 nights a year is no joke! 

---

Keeping Titanium for 2023 isn't looking promising (Platinum already in the bag; if there is another promo I can probably make Titanium happen though), but basically it was obtained from doing leisure travel like it was my job. 😂 Extra elite nights from credit cards (you can get 15 for personal and 15 for business) and particularly occasional promos for double elite night credits helped.  In 2019 (for 2020) I could have hit Ambassador but didn't meet the $20k spend part (pre-tax/fees with Marriott properties, not CC spending).  In 2020 and 2021, Marriott also gave some free nights to help elites stay on track during the height of the pandemic for 2021 and 2022.

Back to the subject at hand, I'll defer to Remedios as she is far more knowledgeable than I about all things US Bank related.  With other lenders in my experience, interest definitely starts to accrue for expired BTs on the day the statement cuts when the promo is scheduled to end, so that's why my answer is contradictory.  That's a welcome thing if there is a grace period as it adds nearly an extra month.

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Color me polka dotted orange, but where did they mention BT?  

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I didn't say Final Answer!  

That's an important distinction and somehow I inserted it in there.  Oops!