Statement Closing Date?

My statement closing date on a credit card is September 17, i just bought something for $200. If i make a purchase on September 18, day after closing date, will that show up on the next statement? Also what happens to the interest rate? If i pay that $200 purchase off by its due date, will i pay an interest rate on the purchase that i made day after the closing date? (i know its confusing) thank you|||Purchases made after your closing date will appear on the next statement, in this case, on your statement for the period ending October 17.





Then, your payment will be due (estimating here) approximately 20 days later (early Nov?). If you make your payment in full by this due date, there will be NO interest. If you make a payment for a lesser amount, interest will be charged but only for that Payment cycle, in this case, for the period ending November 17.





Making a large purchase like this on the first day of billing cycle is a good business practice. You've borrowed the money from the bank for 6-7 weeks, without having any interest! Just make sure to pay in full, and don't overextend!





Hope this helps!|||If you make a purchase after the closing date, the purchase will be on the next statement balance.





The question to part B of your question is: it depends.





Credit card companies charge interest based on Average Daily Balance which is the balance on your account divided by 30 (days in month). Some card companies charge with no grace period for new purchases and the new purchases factor into your minimum payment and finance charges while others give a minimum grace period to new purchases (such as a 20 day grace). Unfortunately, you will need to read the terms and conditions of your credit card in order to find out the exact details.





Now if you don't carry a balance, then you will not be charged on that purchase until you pass the cycle date with balances pending. Interest payments suck.





Many credit card sites will list all credit cards that you can apply for. Just find your card, click on the "terms and conditions" link and you will be able to see where you fall.





Try www.cardinform.com/ci