So if I pay my credit card bill BEFORE the statement comes

[Special K]

Originally posted by: Eli
No. You need to wait until the statement is issued, or it is like paying twice for the previous month.

Hmm, this seems to disagree with what has been posted in the thread so far.

 

[Eli]

Originally posted by: Special K

Originally posted by: Eli
No. You need to wait until the statement is issued, or it is like paying twice for the previous month.

Hmm, this seems to disagree with what has been posted in the thread so far.

See my edit? Does that make more sense? Or maybe I'm misunderstanding the question?

 

[RossMAN]

Originally posted by: Special K

Originally posted by: Eli
No. You need to wait until the statement is issued, or it is like paying twice for the previous month.

Hmm, this seems to disagree with what has been posted in the thread so far.

Eli is correct. However if you payoff your full balance before the statement is issued your owing balance is still $0.

Just to be safe it's best to make a payment during your current billing cycle, after your statement has been issued. If you still receive paper statements you don't have to wait until it arrives in the mail. For example if your statement was issued 9/10/2007 and your due date is 10/4/2007 you can make a payment today which satisfies your current billing cycle.

8/11 to 9/10 - previous billing cycle with due date 9/4
9/11 to 10/10 - current billing cycle with due date 10/4

 

[Jschmuck2]

Originally posted by: RossMAN

Originally posted by: Special K

Originally posted by: Eli
No. You need to wait until the statement is issued, or it is like paying twice for the previous month.

Hmm, this seems to disagree with what has been posted in the thread so far.

Eli is correct. However if you payoff your full balance before the statement is issued your owing balance is still $0.

Just to be safe it's best to make a payment during your current billing cycle, after your statement has been issued. If you still receive paper statements you don't have to wait until it arrives in the mail. For example if your statement was issued 9/10/2007 and your due date is 10/4/2007 you can make a payment today which satisfies your current billing cycle.

8/11 to 9/10 - previous billing cycle with due date 9/4
9/11 to 10/10 - current billing cycle with due date 10/4

Right - I didn't think I was crazy. So my last bill was due on 9/5 and I won't get my next statement until 9/17 or so. I'll have to wait until after the 17th for it to "count," yes?

 

[RossMAN]

Originally posted by: Jschmuck2

Originally posted by: RossMAN

Originally posted by: Special K

Originally posted by: Eli
No. You need to wait until the statement is issued, or it is like paying twice for the previous month.

Hmm, this seems to disagree with what has been posted in the thread so far.

Eli is correct. However if you payoff your full balance before the statement is issued your owing balance is still $0.

Just to be safe it's best to make a payment during your current billing cycle, after your statement has been issued. If you still receive paper statements you don't have to wait until it arrives in the mail. For example if your statement was issued 9/10/2007 and your due date is 10/4/2007 you can make a payment today which satisfies your current billing cycle.

8/11 to 9/10 - previous billing cycle with due date 9/4
9/11 to 10/10 - current billing cycle with due date 10/4

Right - I didn't think I was crazy. So my last bill was due on 9/5 and I won't get my next statement until 9/17 or so. I'll have to wait until after the 17th for it to "count," yes?

What's your current owing balance?

 

[nageov3t]

you should be fine.

I do it all the time, but just to cover myself, I've got an auto-payment setup to pay the minimum balance on the due date every month.

 

[Jschmuck2]

Right around 200 bucks. The statement will come on the 17th for the **next** billing cycle. I think. I'll, as usual, be paying that in full.

 

[RossMAN]

Originally posted by: Jschmuck2
Right around 200 bucks. The statement will come on the 17th for the **next** billing cycle. I think. I'll, as usual, be paying that in full.

Have you made any payments since your August 17th statement?

 

[Jschmuck2]

Yes, I made one on August the 18th

 

[RossMAN]

Originally posted by: Jschmuck2

Originally posted by: RossMAN

Originally posted by: Special K

Originally posted by: Eli
No. You need to wait until the statement is issued, or it is like paying twice for the previous month.

Hmm, this seems to disagree with what has been posted in the thread so far.

Eli is correct. However if you payoff your full balance before the statement is issued your owing balance is still $0.

Just to be safe it's best to make a payment during your current billing cycle, after your statement has been issued. If you still receive paper statements you don't have to wait until it arrives in the mail. For example if your statement was issued 9/10/2007 and your due date is 10/4/2007 you can make a payment today which satisfies your current billing cycle.

8/11 to 9/10 - previous billing cycle with due date 9/4
9/11 to 10/10 - current billing cycle with due date 10/4

Right - I didn't think I was crazy. So my last bill was due on 9/5 and I won't get my next statement until 9/17 or so. I'll have to wait until after the 17th for it to "count," yes?

Think about it this way.

August 17 - statement issued
August 18 - payment made

August 19 to September 10 - $200 charged

September 11 - if you made a $200 payment your new balance will be $0

September 17 - when your statement prints your balance will be $0

Either way you're making your payment on time and avoiding any interest charges.

If it were me I'd wait until a new statement is issued then make a payment but that's just me.

 

[Jschmuck2]

Originally posted by: RossMAN

Originally posted by: Jschmuck2

Originally posted by: RossMAN

Originally posted by: Special K

Originally posted by: Eli
No. You need to wait until the statement is issued, or it is like paying twice for the previous month.

Hmm, this seems to disagree with what has been posted in the thread so far.

Eli is correct. However if you payoff your full balance before the statement is issued your owing balance is still $0.

Just to be safe it's best to make a payment during your current billing cycle, after your statement has been issued. If you still receive paper statements you don't have to wait until it arrives in the mail. For example if your statement was issued 9/10/2007 and your due date is 10/4/2007 you can make a payment today which satisfies your current billing cycle.

8/11 to 9/10 - previous billing cycle with due date 9/4
9/11 to 10/10 - current billing cycle with due date 10/4

That's going to be me too Thanks for the insight R-Funk.

I haven't really gotten the pleasure as I'm a fairly new member to the OT forums...why is it you hang out around here helping everyone?


Right - I didn't think I was crazy. So my last bill was due on 9/5 and I won't get my next statement until 9/17 or so. I'll have to wait until after the 17th for it to "count," yes?

Think about it this way.

August 17 - statement issued
August 18 - payment made

August 19 to September 10 - $200 charged

September 11 - if you made a $200 payment your new balance will be $0

September 17 - when your statement prints your balance will be $0

Either way you're making your payment on time and avoiding any interest charges.

If it were me I'd wait until a new statement is issued then make a payment but that's just me.

Thanks! I'm going to wait until I get my next statement. I'm fairly new to the OT forums - why is it you're so freaking helpful?

 

[RossMAN]

Originally posted by: Jschmuck2

Originally posted by: RossMAN

Originally posted by: Jschmuck2

Originally posted by: RossMAN

Originally posted by: Special K

Originally posted by: Eli
No. You need to wait until the statement is issued, or it is like paying twice for the previous month.

Hmm, this seems to disagree with what has been posted in the thread so far.

Eli is correct. However if you payoff your full balance before the statement is issued your owing balance is still $0.

Just to be safe it's best to make a payment during your current billing cycle, after your statement has been issued. If you still receive paper statements you don't have to wait until it arrives in the mail. For example if your statement was issued 9/10/2007 and your due date is 10/4/2007 you can make a payment today which satisfies your current billing cycle.

8/11 to 9/10 - previous billing cycle with due date 9/4
9/11 to 10/10 - current billing cycle with due date 10/4

That's going to be me too Thanks for the insight R-Funk.

I haven't really gotten the pleasure as I'm a fairly new member to the OT forums...why is it you hang out around here helping everyone?


Right - I didn't think I was crazy. So my last bill was due on 9/5 and I won't get my next statement until 9/17 or so. I'll have to wait until after the 17th for it to "count," yes?

Think about it this way.

August 17 - statement issued
August 18 - payment made

August 19 to September 10 - $200 charged

September 11 - if you made a $200 payment your new balance will be $0

September 17 - when your statement prints your balance will be $0

Either way you're making your payment on time and avoiding any interest charges.

If it were me I'd wait until a new statement is issued then make a payment but that's just me.

Thanks! I'm going to wait until I get my next statement. I'm fairly new to the OT forums - why is it you're so freaking helpful?

Welcome to the OT forums, hopefully you'll become (sucked in and your productivity will suffer) a regular :thumbsup:

Thank you for the kind words. I have my moments I suppose