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Not understanding credit one

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montana586
Regular Contributor

Not understanding credit one

So i always been under the impression that if u pay ur balance in full every month u dont pay any interest on a credit card or at least that's how its been since I opened a capital one secured card 2yrs ago so to my surprise on my credit one card I pay the balance in full yet I still owe $1.67 in interest how is that possible? And I paid it before the statement cut can someone explain how they can do that if I've paid my balance in full? I thought interest only occurred when u made the minimum payment..... once I'm done with this whole mortgage process credit one good riddance...... SUB PRIME= really annoying

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2 REPLIES 2
coterotie
Established Contributor

Re: Not understanding credit one

yep, if you read the fine print, creditone doesn't have a grace period.  I only use mine to guarantee hotel rooms and stuff like that.  That way there is never a finance charge.


@montana586 wrote:
So i always been under the impression that if u pay ur balance in full every month u dont pay any interest on a credit card or at least that's how its been since I opened a capital one secured card 2yrs ago so to my surprise on my credit one card I pay the balance in full yet I still owe $1.67 in interest how is that possible? And I paid it before the statement cut can someone explain how they can do that if I've paid my balance in full? I thought interest only occurred when u made the minimum payment..... once I'm done with this whole mortgage process credit one good riddance...... SUB PRIME= really annoying

 

Message 2 of 3
montana586
Regular Contributor

Re: Not understanding credit one

Wow that's horrible I can't wait to get rid of them kno of any other credit card companies that do this?

Starting Score: 675EQ 698 TU
Current Score: 698TU 675EQ
Goal Score: 720+


Take the myFICO Fitness Challenge


EQ fico 675
Trans Fico 698
EX662
Message 3 of 3
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