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pay credit card bill

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  • 02-04-2013 5:59pm
    #1
    198321
    Closed Accounts Posts: 501 ✭✭✭


    Hi,

    let's say I get credit card bill on 2nd : e500

    on 3rd I spend 50, 4th 60 ..

    and on 7th I pay 500 euro bill that I got on 2nd .. Although I paid my bill in full, since than I spend 110 euro (3rd and 4th)..

    Does that count as clearing balance in full and so 110 euro falls to interest free period?

    Whats the common practice with credit cards?

    I always pay bill in full and used to wait until it goes to 0 and than start spending again ... or can I just keep using my card and pay my bills in full each month without any charges? (within my cc limit)

    Thanks


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    #2
    coylemj
    Registered Users Posts: 25,437 ✭✭✭✭coylemj


    What you spend has no effect until it appears on a bill or you blow your limit so yes, you have paid in full regardless of whether you go spending the day after the bill arrives.

    The only potential issue is that if your limit is 1,000 and you get a statement for 600, you would be limited to a spend of 400 before you pay off the previous month's bill but as soon as you clear the previous bill, you can spend up to the limit.
    198321 wrote: »
    I always pay bill in full and used to wait until it goes to 0 and than start spending again ... or can I just keep using my card and pay my bills in full each month without any charges? (within my cc limit)

    That's not necessary, if you pay the full amount on the monthly statement before the date shown for the minimum payment then you are in the clear and can go spending without any worries other than that you can afford to settle next month's bill. 'Yes' to that question.

    Not alone can you go spending after the statement arrives, you can even spend before the statement arrives by being aware of the monthly cut-off date on your CC account. Go back over the last few statements and find the latest date within the month when an item appeared on the statement. Let's say it's the 11th of the month, that means that you can use the CC on the 12th of the month and it won't appear until the statement after next.


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