I've read a few places that you can't use your cashback to make the minimum payment. However, if you are paying in full, can the cashback be part of that? I've been paying my US Bank Cash + bill by paying the statement balance even though the current balance is lower because I've applied my cashback as statement credit.
As an example, if my bill is $300, and I use $15 of cashback to apply for a statement credit, then my current balance would be $285. So can I just pay $285 at that point? I've been paying the $300 anyway and then my balance is negative until I spend more. But I don't want to somehow get dinged for not paying the statement balance. My concern is that if I use the card after making that payment, then by the time the due date comes, I will still show a balance and I will not have paid the statement balance in full (if they don't count the cashback), so they might start charging interest.
It's not amounted to much money and the surplus goes towards next month's bill anyway, so I haven't bothered to try to figure this out and just keep paying the extra. I just tried to use their live chat to ask, but it wasn't working. I figured maybe someone on here might know the answer.
@dlister70 wrote:I've read a few places that you can't use your cashback to make the minimum payment. However, if you are paying in full, can the cashback be part of that? I've been paying my US Bank Cash + bill by paying the statement balance even though the current balance is lower because I've applied my cashback as statement credit.
As an example, if my bill is $300, and I use $15 of cashback to apply for a statement credit, then my current balance would be $285. So can I just pay $285 at that point? I've been paying the $300 anyway and then my balance is negative until I spend more. But I don't want to somehow get dinged for not paying the statement balance. My concern is that if I use the card after making that payment, then by the time the due date comes, I will still show a balance and I will not have paid the statement balance in full (if they don't count the cashback), so they might start charging interest.
It's not amounted to much money and the surplus goes towards next month's bill anyway, so I haven't bothered to try to figure this out and just keep paying the extra. I just tried to use their live chat to ask, but it wasn't working. I figured maybe someone on here might know the answer.
Yes.
Your cash back does NOT count against your MINIMUM payment, but it does reduce your balance... if you pay in full, you can pay your statement balance less the cash back amount and no interest charges become due.
We do this monthly on a high volume Capital One card in our household. They've never charged me any interest. 
