ExFlyBoy5
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
As some of you many know, I use the Amex Preferred Cash card for a majority of my purchases and I pay the card in full each month. The manner in which I do this is as follows: Statement closes on 3rd of each month. On the 2nd of each month, I will make a payment for the entire balance. Usually, the balance will be negative or have some depending on pending charges on the 2nd. Now, the last three months, the balance on the card (at statement closing) has been
Mar -140.50
Apr +187.92
May -15.54
And this month, I had an interest charge for 20.78 on a balance of 1556.78. I called CSR to see why this was and she attempted to explain "trailing interest." God help her, I asked her to clarify about 3 different ways and still didn't understand what she was trying to explain. When I thought I got it, and illustrated some real-statement examples, the dates/amounts didn't work. She ultimately said I should just set up auto payments to keep it from happening. I thought I was a fairly smart cookie when it comes to money...but I just can't grasp this and it's quite annoying. They did reverse the charge, but I am not really sure how to keep it from happening again. Is my error paying the balance a day prior to statement closing? I just don't get it.
Sorry...just ranting a little bit. I know there are lots of articles out there that could probably explain it. The AMEX CSR even said that she had to watch a YouTube video when she started working there to understand it and that they get quite a few calls on it. Ugh.
Mar -140.50
Apr +187.92
May -15.54
And this month, I had an interest charge for 20.78 on a balance of 1556.78. I called CSR to see why this was and she attempted to explain "trailing interest." God help her, I asked her to clarify about 3 different ways and still didn't understand what she was trying to explain. When I thought I got it, and illustrated some real-statement examples, the dates/amounts didn't work. She ultimately said I should just set up auto payments to keep it from happening. I thought I was a fairly smart cookie when it comes to money...but I just can't grasp this and it's quite annoying. They did reverse the charge, but I am not really sure how to keep it from happening again. Is my error paying the balance a day prior to statement closing? I just don't get it.
Sorry...just ranting a little bit. I know there are lots of articles out there that could probably explain it. The AMEX CSR even said that she had to watch a YouTube video when she started working there to understand it and that they get quite a few calls on it. Ugh.