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mrduckmann | Read the question please, no dumb answers. Would there be a problem paying more than the statement balance? |
On a credit card to cover purchases bought after the statement? Say I have a $100 bill and I bought $100 more of stuff after the statement was mailed. So the statement is 100 and the online amount is 200. If I would pay 200 now, would it cause a problem?
Don't answer "pay off early to avoid finance charges" or "why would you want to pay more now?" I will have to pay it off sooner or later and I have the money, so I can do it.
Thanks! |
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Omniscient
 |
Everyone here seem to have already answered your question so I won't go into details but it is okay.
trigam41 is a freaking retard and needs to go back to school to learn how to read before he starts talking about his compliance training. She isn't over paying the balance you moron, her balance based on the example above "IS" $200, its just that when the statement was produced, it only showed her current balance of $100. Her first line was "Read the question please, no dumb answer."
However I will say that there is some truth to his comment regarding the fraud, but rarely if ever would they investigate on anything if you overpay your credit card balance. It happens more often these days and if you have a legitimate reason to do so, you have nothing to worry about. |
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trigen
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It's fine to send in more than the statement balance - it will either show as a credit or go against your purchases assuming that they have posted to your account |
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glamour04111
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yes |
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AB
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Internet banking is a wonderful resource. This is an up-to date record of your account, rather than a paper copy of your bill that can be easily outdated. Paying would not cause any problems. I personally do not use paper statements any more, rather I check my balance online. |
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mamadukes
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There's no problem at all. You can pay as much as you want, I don't think they'll even charge you for finance fee, because you are not only paying what you owe but are also paying what is being charged within the month. Good credit practice on your part. |
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Lola
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The credit card company may try to send you the money back if it is over the total balance on your account. I would wait before sending in the extra money. Send them the full amount on your statement now, and then in a couple of weeks send them the amount of the new balance. By then it will be on the statement and they can apply it to that amount. If you pay online, you can arrange a payment in advance. |
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General Custer
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I've done it many times. Your just create a credit balance. I do this when I go on vacation. There is no bill that needs paying that will come while I'm gone. It's like free travelers checks. |
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spot
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Sure. You can do that. There is no problem. Some credit card companies will mail you a check after 1-2 months if you pay too much. |
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Kevin K
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You can pay as much as you want, it's up to you. The statement balance is simply the balance up until they print the statement....if you pay more after that, then so be it. I sometimes pay my visa bill twice a month - once for the statement balance (you must pay this) and again when I want to bring my balance lower (optional).
I see this is new to everyone so let me explain. On your credit report there are two entries: scheduled payment amount and actual payment amount. The SPA is the minimum payment required based on your statement balance. Your contract states when to pay this. Your APA is any amount over that you wish to pay. For example, if you charge $1,000 in one month the minimum due might be $30. If you pay $530, on your CR there will be two entries: the scheduled payment of $30 and the actual payment of $530. |
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trigam41
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Everyone seems to think it's okay. But, most credit card companies WILL NOT allow you to pay more than your balance. This is due to anit-money laundering concerns.
One way to launder money is to over-pay on credit accounts.
Note: I could not reply to your e-mail. Yahoo! states that your email address has not been confirmed. |
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slknspphrs
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Of course you could pay early and it's smart to do it while you have the extra money (cause who knows how your finances coud be by the time your next statement rolls around.) |
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words_smith_4u
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Most credit cards have a 'grace period' meaning that after you make the purchase, you have a certain number of days before it's posted to your monthly payment. If you pay the balance each month, you won't incur finance charges... however that assume that you'll have the full balance for each month.
Paying off early doesn't cause a problem - it may help you get 'ahead' on the credit cards. |
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schally31
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if your paper statement state $100 and online says $200 pay your bill online, it always looks good on your credit report when you may more then the minimum balance, and early, it shows you are trustworthy of their credit.
I always pay more then my min due not only to pay off the card faster but to boost my credit score. |
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Renee W
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Unless the company has penalties in paying off the card, instead of just the $100, I am sure you can pay the balance in full if you choose to. Most card companies don't mind how much more you pay as long as they get their money, and as long as you give them the minimum amount (EX: Minimum is $10, you can pay $50 or in full.) You can call and find out if they will allow this, but I am sure they should allow it. Plus it will look very good on your credit if you pay it in full every month. |
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