Comment on My credit union no longer allows me to payoff pending purchases made on my credit card
SpaceNoodle@lemmy.world 4 days agoI’ve never encountered a bank or card issuer like that in the US. Can you provide any examples?
Comment on My credit union no longer allows me to payoff pending purchases made on my credit card
SpaceNoodle@lemmy.world 4 days agoI’ve never encountered a bank or card issuer like that in the US. Can you provide any examples?
whambawhomp@lemmy.world 3 days ago
All cards calculate interest per day. That’s the standard formula. They only charge you the sum interest at the end of the month when your billing cycle ends.
nerdwallet.com/…/how-is-credit-card-interest-calc…
This becomes apparent if you’ve ever paid a card off really early, and then still been charged interest even though you’ve had a zero balance one or two weeks before the billing cycle ended.
SpaceNoodle@lemmy.world 3 days ago
No, not on balances immediately after the time of purchase, but on balances that remains unpaid after a starement’s due date.