Paying the outstanding balance is an excellent option if you can afford to do so. By submitting a payment in the amount of your current balance, you’ll have completely paid off your credit card bill, thus avoiding interest charges. Paying the outstanding balance also guarantees that your cred...
What is an outstanding balance on a credit card? And when is this figure different from your statement balance? The terms “outstanding balance” and “statement balance” are often used in place of one another, but they’re not the same. Read on to find out what these credit card terms...
Most importantly, your credit card statement balance is also the amount you need to pay in full each billing cycle to avoid being charged credit card interest on remaining balances during the following billing period. Outstanding balance vs. current balance ...
An outstanding balance on a credit card account is simply the total amount you owe at a given time. For example, the outstanding balance on your monthly bill is the total debt as of the statement date. Outstanding balance is computed starting with the old balance from the previous month. Vi...
Categories:Credit Cards TheUnbilled Amountis a list of credit transactions that have been made since the last credit card statement was generated. A credit card statement refers to the credit card bill, which shows the outstanding amount that you would have to pay by your due date. This unbill...
Your credit card balance is the sum of your posted activity. This includes purchases, payments, balance transfers, cash advances, interest, and fees. If you had an unpaid (or outstanding) balance from the previous month, your current balance adds new activity to the outstanding balance. Your...
Another option is to ask your credit card company to write you a check for a negative balance or to deposit the money it owes you in your bank account. Alternatively, you can just continue to make charges to the card, which will eventually offset the negative balance. ...
What is a balance transfer?A balance transfer allows you to shift outstanding debts, including credit card balances and loans, from one account to another. If you have multiple debts with different annual percentage rates (APRs), you might use a balance transfer to consolidate them so they’re...
What Is a Zero Balance Card? The term “zero balance card” refers to acredit cardwith no outstanding balance of debt. Credit card users can maintain zero balance cards either by paying off their full balances at the end of each billing cycle, or by simply not using their cards. In eith...
Balance transfer cards have low introductory interest rates and fees on balance transfers from another credit card. Secured credit cards require an initial cash deposit that is held by the issuer as collateral. Charge cards have no preset spending limit but often don’t allow unpaid balances to ...