Letting balance report 9% without paying interest.. ?

[cwwatts1202]

This confuses me. You have to PIF by the due date to aviod interest, but if they dont report for 2-3 days after the due date, how do you let your CC report a small balance, w/ out having to pay interest on that balance??

[Sobo]

You let them cut the statement - they usually give you a couple weeks at least before it is due. So wait a few days for it to report, then pay it in full before the due date.

I believe that is how it works, someone can correct me if I am wrong.

[cwwatts1202]

So when they send you the statement (or bill) is when they report?

[Anonymous]

Yes, they generally report a few days from the statement date.  Once the 9% or under is reported, then pay before the due date, which should be a week or so out.

[cwwatts1202]

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@Anonymous wrote:

Yes, they generally report a few days from the statement date.  Once the 9% or under is reported, then pay before the due date, which should be a week or so out.

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Ok I was under the impression they don't report until AFTER the due date, to report whether or not you made your payment etc. So they actually report 2-3 days after you get the bill? So say I spend $18, CL is $200, i'm safe to let that $18 report and i'm safe to pay it on the due date right? Cause it will already have reported by the due date?

[Anonymous]

They wouldn't report a missed payment for, say this month, until, next month.  You have to be 30 days or more late to have a late reported to the CRAs.