I have a Capital One Quicksilver which I use for work and consequently put about $ 6-7K per month on. I make frequent payments throughout the month.
My due date is 12/20 – I’ve alrady paid in full for this month. My closing date is 12/23. If I make a payment on 12/22, the payment will be credited on the statement closing the 23rd, but does the payment count toward the amount owed to pay in full for the next month as well.
For example: Balance on 11/23 statement was $ 6000.00, I paid $ 7000.00 but charged $ 6500.00, so the new balance will be $ 5,500.00. So based on the new statement balance I need to pay $ 5,500 to avoid interest. If I pay an additional $ 1000 between the due date and closing date the balance would be $ 4,500, but does the $ 1000 already count toward the amount I owe to pay in full before the due date, i.e. I need to pay an additional $ 3,500 to avoid interest?
Hope this makes sense.