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Noob question about credit cards

OFDM · 2005-12-10 12:09:22

Suppose when you get your credit card statement you owe €20 and the minimum payment is €5. So you transfer €50 from your current account to the credit card giving it a credit balance of €40. But by the time your next months statement comes out, you again owe the card money, let's say €30. In this case, will the €20 balance…

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10-12-2005 1:09pm

#1

OFDM

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Suppose when you get your credit card statement you owe €20 and the minimum payment is €5. So you transfer €50 from your current account to the credit card giving it a credit balance of €40. But by the time your next months statement comes out, you again owe the card money, let's say €30.

In this case, will the €20 balance from the previous month be considered to have been paid off and no interest on it will be charged? Or will you be charged interest on the €30 because this would be the second statement in a row with a debit balance and its considered that the card hasn't been paid off in full?

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#2 10-12-2005 1:16pm
daveirl

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