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Consequence of paying less than statement balance
Consequence of paying less than statement balance I've never quite understood the workings of CCs when you don't pay the entire balance. Here's a scenario: My CC has a balance of $0. The interest rate is 20%. I make a single $1000 purchase on 10/1/2023. The statement is sent out 30 days later, 10/31/2023. The statement balance $1000. The due date is 11/15. Let's say I pay $999 on the due date, ...
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