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posted: Feb. 12, 2013 @ 1:07p

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
posted: Feb. 12, 2013 @ 1:07p
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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) |

 

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posted: Feb. 12, 2013 @ 1:10p

What was the due date on the Jan statement?
posted: Feb. 12, 2013 @ 1:10p

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.

Thanksyou 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.
posted: Feb. 12, 2013 @ 1:11p

2/9

I made the payment for the rest of the full payment on 2/7
posted: Feb. 12, 2013 @ 1:15p

When you called the bank/credit card issuer, were the script-readers not helpful?
posted: Feb. 12, 2013 @ 1:20p

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.
posted: Feb. 12, 2013 @ 1:42p

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: Feb. 12, 2013 @ 1:46p

Probably 2/11
posted: Feb. 12, 2013 @ 1:49p

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
posted: Feb. 12, 2013 @ 1:49p

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.
posted: Feb. 12, 2013 @ 1:54p

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.
posted: Feb. 12, 2013 @ 1:57p

Post your statement, SS#, and birthdate.. or CALL them.
posted: Feb. 12, 2013 @ 2:08p

Yes,
That is correct.....

Next!
posted: Feb. 12, 2013 @ 2:29p

same thing happened to me on my Starwoods AMEX last statement... I've been meaning to call them up.
posted: Feb. 12, 2013 @ 2:36p

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.
posted: Feb. 12, 2013 @ 3:11p

The second payment probably posted in the next cycle.
posted: Feb. 12, 2013 @ 5:59p

Did you pay the previous month's new balance off in full before the due date?
posted: Feb. 12, 2013 @ 9:45p

$10 in interest? WAAAAAAAAAAAAH
posted: Feb. 12, 2013 @ 11:24p

passes the chipotle test
posted: Feb. 13, 2013 @ 1:00p

LorenPechtel said:   The second payment probably posted in the next cycle.OP said it posted 2/8 and statement close date was 2/9.
posted: Feb. 13, 2013 @ 1:03p

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.
posted: Feb. 20, 2013 @ 8:22p

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


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