Using credit after statement issued -- but paying in full?
If I get a statement with on it, but charge 2 more after that it's no longer the same statement -- but if I still pay the on it in the grace period I am still not charged interest.
My questioning is about the and the following statement -- how will this work?
Since I paid in full before the due date (no interest), what will be of any money I charge after the statement is issued? Does it still get computed into the next statement somehow?
I'm not wondering how this will affect interest -- I'm wondering how this will help my score or not.
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For sake of clarity let me offer dates for 2 month's activity -
Jan 1 - Jan 31 New card and you make in charges
Jan 31 - the cycle ends, a bill is cut for , due Feb 23
Feb 1 - you charge (or more)
Feb 22 - you pay , your account is current, no interest has accrued.
Feb 29 - The new bill is cut and it has charges made during February.
If, on the 22nd of Feb, you paid , the Feb 29 bill would show zero balance. This is of no value. Other questions here have discussed the fact that the credit agencies prefer regular usage, even 1% of the credit line. I suggest charging all gas, as it's regular, and not subject to the whims of overbuying. They are those who suggest that my grocery bill is 25% higher due to impulse buying on credit. I doubt you'll drive more just because you charged the gas.
Charges made after a statement's closing date simply go onto the next statement.
If, like most of us, you aren't being charged interest until that statement's due date, there is no advantage to prepaying the . You can just pay it when that statement comes in.
Prepaying it doesn't do any harm (except costing you a fraction of a penny of interest you might have earned by keeping that money in your own account), but you are making this harder and more stressful than it needs to be.
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