Credit Card Payment

Quote from iflabs : My last CC statement shows a balance of $1400 and payment is due in a week. I recently did a partial payment of $1000. I also did a few returns on purchases that were made in the last statement. Both the the partial payment and returns totals more than $1400. Do those return credit count towards the statement balance, or do I actually have to make $1400 in payments to avoid interest?

They count toward the statement balance. So you are saying you now have a credit since the partial payment and the returns total more than $1400?

Quote from bbixler : They count toward the statement balance. So you are saying you now have a credit since the partial payment and the returns total more than $1400?

There probably isn't a credit since they have likely continued to use the card.

Quote from iflabs : My last CC statement shows a balance of $1400 and payment is due in a week. I recently did a partial payment of $1000. I also did a few returns on purchases that were made in the last statement. Both the the partial payment and returns totals more than $1400. Do those return credit count towards the statement balance, or do I actually have to make $1400 in payments to avoid interest?

Why don't you just look online for the current balance on the card? I think just about every card has a web portal that shows current spending. I can buy something and it shows online before I get home 10 minutes later.

You should be good to go. They post immediately.

Also, you can call the number on your credit card and it will tell you how much is owed over the phone. Usually the most current.

They don't want to know the current balance. They received a bill for $1400, then made a $1000 payment. They also returned items which resulted in statement credits of at least enough to cover the other $400 from the last bill. They want to know if the statement credits counted towards the last bill or if they would be charged interest on the unpaid portion of the last bill.

I don't know the answer for sure, but I would disagree with bbixler. I don't think that statement credits count as a payment towards your last bill. I would pay the $1400 for the last bill and let the money from your refund reduce your next bill. It probably depends on the terms of your specific card.

Here's a similar discussion on the Clark Howard forums that kind of agrees with me: Does a credit card refund count towards your monthly payment [howardforums.com]
And another discussion on FW [fatwallet.com]

It's always counted towards my payments for that month.

Quote from dhc014 : They don't want to know the current balance. They received a bill for $1400, then made a $1000 payment. They also returned items which resulted in statement credits of at least enough to cover the other $400 from the last bill. They want to know if the statement credits counted towards the last bill or if they would be charged interest on the unpaid portion of the last bill. I don't know the answer for sure, but I would disagree with bbixler. I don't think that statement credits count as a payment towards your last bill. I would pay the $1400 for the last bill and let the money from your refund reduce your next bill. It probably depends on the terms of your specific card. Here's a similar discussion on the Clark Howard forums that kind of agrees with me: Does a credit card refund count towards your monthly payment [howardforums.com] And another discussion on FW [fatwallet.com]

This. But I definitely would like to know an answer for sure. I called CS and they were just confused. Maybe I didn't explain it clearly?

Some are saying you have to make at least the minimum payment out of your pocket. I'm still carrying a balance of around $200ish with new purchases but I made over over $1400 in payments + return credits. I wonder if I still need to pay $400 out of my pocket or at least bring the account down to zero, to satisfy the statement balance that was issued.

Quote from iflabs : This. But I definitely would like to know an answer for sure. I called CS and they were just confused. Maybe I didn't explain it clearly? Some are saying you have to make at least the minimum payment out of your pocket. I'm still carrying a balance of around $200ish with new purchases but I made over over $1400 in payments + return credits. I wonder if I still need to pay $400 out of my pocket or at least bring the account down to zero, to satisfy the statement balance that was issued.

If cash flow is not an issue for you I would just pay the full balance and then use the credits from the returns to reduce your next statement.