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I was paying my credit card bill on the due date for a decade until my bank statement showed a $45 interest charge last month.
The statement date is when the balance is set, not the due date, and I'd been carrying a balance for the whole billing cycle without knowing it.
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the_piper5mo ago
You have my complete sympathy. I did the exact same thing for years with a store card, paying on the due date and never looking at the statement. The interest quietly piled up on a small balance I didn't realize was still there. It's such a common trap because the due date feels like the important deadline. Now I pay as soon as the statement posts to avoid any chance of that cycle starting again.
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