• Page :
  • 1
  • Text Only
Voting History
rated:
I owed $1711.95 on new charges when the statement ended in January.

I made a payment of $1,400.00 on 01/25/2013 then another payment of $311.95 on 02/07/2013 to clear out the balance before the statement ended on February 11th.

After I made those two payments, my balance was 0 prior to the new statement posting on February 11th . I check my new statement that just posted and I am charged for interest only of about $10. I expected to not owe any interest fees since I paid off the full amount before the new statement posted. Just wondering if this seems right.

Thanks

Member Summary
Most Recent Posts
OP said it posted 2/8 and statement close date was 2/9.

billrubin (Feb. 13, 2013 @ 1:00p) |

I agree with this. OP, was your bill paid in full the previous month, or did you get charged interest then? If you paid ... (more)

billrubin (Feb. 13, 2013 @ 1:03p) |

Not so fast! That covers the fees for 2.5 ice cream treats at CV$!

HawkeyeNFO (Feb. 20, 2013 @ 8:22p) |

Thanks for visiting FatWallet.com. Join for free to remove this ad.

What was the due date on the Jan statement?

rza1 said:   I owed $1711.95 on new charges when the statement ended in January.

I made a payment of $1,400.00 on 01/25/2013 then another payment of $311.95 on 02/07/2013 to clear out the balance before the statement ended on February 11th.

After I made those two payments, my balance was 0 prior to the new statement posting on February 11th . I check my new statement that just posted and I am charged for interest only of about $10. I expected to not owe any interest fees since I paid off the full amount before the new statement posted. Just wondering if this seems right.

Thanks
you didn't pay off the balance by the due date, which I'm guessing was Feb 4th or 5th, so you wee charged interest on that balance. When the next statement cycled is irrelevant.

2/9

I made the payment for the rest of the full payment on 2/7

When you called the bank/credit card issuer, were the script-readers not helpful?

Is double billing cycle still legal? Your account needs to be cleared up for 2 consecutive statements for finance charges to not apply. It may be that or some kind of variation of that method.

rza1 said:   2/9

I made the payment for the rest of the full payment on 2/7


And when we it credited to the card account?

Probably 2/11

Infinion said:   rza1 said:   2/9

I made the payment for the rest of the full payment on 2/7


And when we it credited to the card account?


Posted on 2/8

Assuming the Jan statement came on Jan 11th-ish, and most cards have roughly 25 day grace period, I'd bet the due date to avoid charges was more like Feb 5 or 6th, something like that. So, if you madea payment on 2/7, it's pretty likely you missed the grace period.

rza1 said:   Infinion said:   rza1 said:   2/9

I made the payment for the rest of the full payment on 2/7


And when we it credited to the card account?


Posted on 2/8


Ask the issuer then.

Post your statement, SS#, and birthdate.. or CALL them.

Yes,
That is correct.....

Next!

same thing happened to me on my Starwoods AMEX last statement... I've been meaning to call them up.

If there was a balance on your December statement, you had not yet established an interest free grace period, so yes there would still be some finance charges. If you keep on paying your balance in full there won't be any more.

That's a common misunderstanding as it's difficult(not impossible)to glean that from the account disclosure.

The second payment probably posted in the next cycle.

Did you pay the previous month's new balance off in full before the due date?

$10 in interest? WAAAAAAAAAAAAH

passes the chipotle test

LorenPechtel said:   The second payment probably posted in the next cycle.OP said it posted 2/8 and statement close date was 2/9.

anthonyu said:   Is double billing cycle still legal? Your account needs to be cleared up for 2 consecutive statements for finance charges to not apply. It may be that or some kind of variation of that method.
I agree with this. OP, was your bill paid in full the previous month, or did you get charged interest then? If you paid interest the previous month, you continued to be charged interest until the payment hit.

Other option is foreign transaction fees, which may show up as a finance charge.

Barring that, call the bank and ask them, unless you want to post your statement here.

ProfitAfterRebates said:   $10 in interest? WAAAAAAAAAAAAH
Not so fast! That covers the fees for 2.5 ice cream treats at CV$!



Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Thanks for visiting FatWallet.com. Join for free to remove this ad.

TRUSTe online privacy certification

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2014