<p>I’ve only had this CC since late October 2007. </p>
<p>The balance on my first statement is $101.51 and the payment due date is December 2. Not that it matters, but the limit is $3000.00 and the minimum is $15.00. </p>
<p>My current balance, i.e. including all subsequent transactions between the time the statement was issued and now, is $150.51.</p>
<p>If I pay $101.51 in full before December 2, will I incur finance charges for the remaining $49.00? (Assume that no further CC transactions occur between now and December 2.)</p>
<p>No you wouldn’t I would suggest paying your entire balance in full. That is the best way to deal with credit cards and avoid interest rates. If the minimum payment is $15 you will not receive any penalties as long as that $15 is paid on time. Paying anything over that $15 up to the full balance is good.</p>
<p>If you do not pay the full balance owed as of the statement date, interest charges will accrue on the new charges as well as the old charges. You will keep much better control of your finances and save lots of money if you pay the total balance each month. GOod luck. Lorelei</p>
<p>In order to avoid finance charges, you only have to pay the full amount on your statement by the due date. The charges made subsequent to the statement date don’t count for interest unless you don’t pay the statement in full by the due date.</p>
<p>If you pay $101.50 by December 2 there will not be any finance charges.</p>
<p>You do not have to pay the other $49 until you get a statement. That will show up on your December statement and will probably be due around January 2.</p>
<p>I would advise that you pay online or mail your check at least a full week before it is due. One of the “gotcha’s” for credit cards is late payment fees, and some companies will be slow about processing checks and then charge you a fee even though you mailed the check before the due date. The late payment fees are huge – usually around $30. </p>
<p>So the best thing to do is to pay the balance shown on your statement as soon as you receive the statement. </p>
<p>If you are ever in a situation where you don’t quite have the money for the full balance, you can always pay the minimum right away, and then pay the balance before the due date to avoid the finance charges. As long as they receive the total owed on the statement before the due date, there will be no charges. But sending at least the minimum immediately will also make sure that you never get hit with those late charges.</p>
<p>I do just about all my bills on-line. As soon as you get a bill you just enter the amount on your on-line bank account and the payment date. No worries about being late and no stamps or checks to deal with. You can set it all up within minutes and put in the amount of $101.50 to be paid when you want.</p>
<p>If by chance you got your credit card through your bank, you can take the payment slip in to the bank and pay it there, close to the due date (the day before the due date to be sure payment is credited in time). I do this every month.</p>
<p>I only use one credit card - American Express. I pay the balance in full at the end of every month. Amex is far superior to all other credit cards. I have others but haven’t used them in ages. I love American Express.</p>
<p>Did your card come with a 0% APR for 6 Months offer?
If it did, then you only need to pay the “minimum due” in order to avoid nasty consequences for the moment… Don’t get too used to this as you will need to pay it all off by the due date in the future.</p>
<p>Please make it a habit to pay off your entire “statement balance” evrey time and do not run up a huge one no matter what the APR is. You will thank yourself later. Do you know that a high average daily balace/credit limit ratio may negatively affect your credit score?</p>
<p>If possible, consider setting up automatic payment of the full credit card balance from your bank account each month. This way, you do not have to worry about making payment or paying late fees. You’ll also get used to only charging things which you know you can pay in full a month later. :)</p>