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Topic	How do you use your credit cards?
Soviet_Poland 12/31/17 5:40:30 PM #35:	_Rinku_ posted... "Keeping a balance" is a myth meant to trick you into paying interest. When people say "keeping a balance", they mean paying the statement balance, not your TOTAL balance. They can't charge you interest on any charge made less than 30 days ago. Since your statement balance is the SUM of your total charges in the past 30 day charges, but the DUE DATE is a few days/week or two past the STATEMENT BALANCE, any new charges made after the statement balance aren't included in interest charges. Example, you buy a TV for $400 on the 1st. On the 30th, you have a statement balance of $400 (you didn't buy anything else the rest of the month). The due date is on the 12th, but on the 9th you bought a PS4 for $200. Your total account balance is $600, but your amount due on the 12th is only $400. Even though you're "keeping a balance" of $200, that doesn't get charged interest, unless you keep that balance past the NEXT statement balance. --- "He has two neurons held together by a spirochete." http://steamcommunity.com/id/Soviet_Poland/wishlist <cite>Soviet_Poland posted [p:893194237] in How do you... [t:76153998]...</cite> <quote><cite>_Rinku_ posted...</cite> <quote>"Keeping a balance" is a myth meant to trick you into paying interest.</quote> When people say "keeping a balance", they mean paying the statement balance, not your TOTAL balance. They can't charge you interest on any charge made less than 30 days ago. Since your statement balance is the SUM of your total charges in the past 30 day charges, but the DUE DATE is a few days/week or two past the STATEMENT BALANCE, any new charges made after the statement balance aren't included in interest charges. Example, you buy a TV for $400 on the 1st. On the 30th, you have a statement balance of $400 (you didn't buy anything else the rest of the month). The due date is on the 12th, but on the 9th you bought a PS4 for $200. Your total account balance is $600, but your amount due on the 12th is only $400. Even though you're "keeping a balance" of $200, that doesn't get charged interest, unless you keep that balance past the NEXT statement balance. --- "He has two neurons held together by a spirochete." http://steamcommunity.com/id/Soviet_Poland/wishlist</quote> ... Copied to Clipboard!
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