My credit card statement! Help

[Bimgy85]

So my brains not working tonight. Just viewing my monthly statement online.

My statement was issued on the 24th of this month. Full balance €360, minimum €18 by 18 November. On the 28th I paid €70 towards this full balance thinking it would come off the €360. I spent on it after my statement was issued presuming that'll be on my next months statement.

However it seems this €70 has just been knocked off the general overall balance and not even took anything off my €360 that's due in November.

Am I missing something? Can someone explain? Or is everything okay 😂

[Bimgy85]

In my mind that €70 was supposed to go towards my balance and therefore I'd only owe €290 by the 18th of November, but it's still at the full balance of €356 presumably because I've spent on it in the meantime however I thought what you spend after you get our statement goes onto the next statement? Or is it all evening out anyway?

[Bimgy85]

Or will the company know I've paid €70 towards it after statement was issued and therefore my outstanding balance is €290? Am I overthinking this completely? Much appreciated!

[SheRaTheAllPowerful]

Well if you’ve paid the minimum you are fine until next months statement and but you’ve continued to spend and that is what your current balance is.

[IDontWearMakeUpOnThursdays]

You paid £70, and then spent £72.17 afterwards, so it's pretty much balanced out.

However your statement doesn't make sense to me because the overall balance is going down rather than up when you spend on it, like a debit card statement rather than a credit card statement?

[BadLad]

Have you overpaid in the past, and are therefore in credit with them, rather than owing them money?

[Casmama]

I think what you are looking at is not the statement but the current balance and recent transactions. The statement is a snapshot at a certain point in time and as such you needed to pay €360 to avoid paying interest. You still need to pay €290 to avoid paying interest but the overall amount you currently owe to clear the whole balance and take it to €0 is €356.76.

[Bimgy85]

Sorry just to clear it up that's my transactions not my statement. I received my statement to my address and viewed it online.

Those are my transactions so the red is me buying stuff and the €70 is me paying €70 off my 'bill'

Ah I see (last comment) so regardless I still only have to clear €290 by the date rather than the full €360. Then the further €70 would be on my next months statement?

[IDontWearMakeUpOnThursdays]

Actually, ignore me, I thought the most recent balance was at the bottom, but I'm guessing it's actually at the top. Looks like you'd spent on somethings that hadn't come through before your statement was produced?

[Bimgy85]

@BadLad no, it's a credit card, just confuses me sometimes 

[Bimgy85]

Yes sorry, all looks a bit confusing. Suppose my main question was why couldn't I see my 'monthly statement balance' going down when I paid €70 off it, rather than only seeing my regular full balance

[IDontWearMakeUpOnThursdays]

I don't think you can see your "monthly statement balance" when you check your online balance. Like someone else said, the monthly statement is just a snap shot, and the online statement is up to date (though sometimes it takes a few days for payments to register). It looks like you'd spend an extra £70 after your statement was produced and posted to you, so instead of owing 360, you actually owed closer to 430, so although paying 70 this month means you've met the minimum payment for this month, you've not actually lowered the overall amount cos of the 70 extra quid you spent.

[Bimgy85]

@IDontWearMakeUpOnThursdays but that's the thing, I did lower the amount if the owed balance is €360 and I paid €70 which leaves a remainder of €290. And then the remainder would be issued on the next statement seen as those payments were after the statement had been issued?

[Casmama]

Yes your last message is correct. Paying €290 before the due date will mean you cleared the statement balance and will not pay any interest. Further purchases will show as transactions on your next statement.

[IDontWearMakeUpOnThursdays]

But when you paid the €70, the owed balance at that specific time was €426.76, not €360 (because you'd spent about €70 since your statement was issued), so that's why your current owed balance is €356.76.

I'm guessing your next written statement will say your balance was €360 on the 24th Oct, then €430 by the 28th Oct because of those extra things you bought that weren't on the last statement, then back to €360 on the 28th Oct cos you paid €70, then whatever else you spend up until the 24th November will be added on. So if you don't spend anything on it next month then the next owed balance on the 24th November will be €356.76.

[IDontWearMakeUpOnThursdays]

"then the next owed balance on the 24th November will be €356.76."

• forgot to say plus the interest!

[DeaflySilence]

"My statement was issued on the 24th of this month ... On the 28th I paid €70 towards this"

The photograph is clearly not one of the statement issued on the 24th (as it wouldn't show a payment made 4 days after the statement issue date).

That suggests that you are comparing an interim account, not an actual statement. could that be the case?

[Bimgy85]

@DeaflySilence how do you mean? Why wouldn't it, my statement was issued on the 24th October and on the 28th I made a payment towards it of €70 that did not show until the 30th.

In relation to the interest, no, there is none if I'm clearing the full balance each month. On €509 there was 0.04% interest! And I earned €9 in cashback so happy with that.

Thanks, some of you cleared it up for me. But for those saying below that my new statement balance would have been €430 instead of €360 because I spent a few days after, no, once the statement is issued the amount obviously stays at that until it's paid, so obviously the extra €70 will roll over to next month

[Bimgy85]

@DeaflySilence yes sorry as stated below it's actually just history of transactions in and out, my apologies!