credit card min balance question

[zixxer]

I bought my college books on my credit card (my company has to issue me a check.. may take two weeks or so.) I realized that my due date is like a week away. There's a "minimum payment due" of $10. Will that allow me to avoid paying interest?

 

[Legendary]

In short, no.

 

[Vic]

Originally posted by: armatron
I bought my college books on my credit card (my company has to issue me a check.. may take two weeks or so.) I realized that my due date is like a week away. There's a "minimum payment due" of $10. Will that allow me to avoid paying interest?

In order to know that exactly, I would need to know your balance and interest rate. BUT as college books generally cost a lot more than $10 bucks, I'm certain that you are going to pay interest if you only make that minimum payment.

 

[Dulanic]

You usually have a 30 day or so grace period before intrest is accrued on a item. So let's say you bought them a week ago, and your payment is due in a week, you make the $10 payment, then a week later you pay it all off. Then no you wouldn't pay any intrest on thoose books.