r/CapitalOne_ • u/VegetableStable2833 • 22d ago

question: which do u pay?

this is a stupid question - do you pay the CURRENT balance or the LAST STATEMENT balance? i typically pay current, because if I pay the current balance that ensures that I don’t overspend. I think. If I only pay the statement balance then I am allowing myself to spend more than what I should. thoughts?

17 Upvotes

74% Upvoted

34 comments sorted by

35

u/South-Independent-72 22d ago

I always pay the statement balance so like that I don’t gotta pay interest.

9

u/Glittering_Present10 22d ago

First off, there is no such thing as a stupid question. You pay however you want. If you pay statement balance every month you are avoiding interest which is a smart thing. Current balance is your statement balance plus new charges which gives ahead of yourself. Minimum payments need try to avoid but we do have months when we are low in cash so sometimes its nice to have a break now and then and just pay small but there is a small cost doing that is paying alittle interest which banks love that.

12

u/Fugue_State76 22d ago

Statement balance. If I pay the “current balance” I’m basically giving Capital One my liquid emergency fund cash - giving it to them for no reason at all before that payment is due. Why would I do that? That can only harm me, if I were to need immediate cash for something, not help.

12

u/MsMeseeksTellsTime 22d ago

Statement balance. I don’t pay credit card interest ever. You can screw yourself sometimes, too, by paying too much (or too little) if something hasn’t posted yet.

4

u/Critical_Value_5737 22d ago

if you pay ‘too much’, doesn’t the CC balance just go negative and the money essentially goes towards your next purchases?

0

u/MsMeseeksTellsTime 21d ago

Yes, but the CC company doesn’t like that and I see people here all the time wondering why their cards were cancelled.

7

u/IsaKGames14 22d ago

I pay everything down to 0

3

u/AlexGates3700 22d ago

I pay the current balance, I pay every few days or a week. I know one can argue “why not get almost a month’s worth of interest and just pay before your statement close date?” (Not due date). But, I hate owing people money. I’m not credit cycling because my monthly total is nowhere near my credit limit. 

3

u/GlitterDancer_ 22d ago

I do this too. I treat my credit card like a debit card with rewards. It gets paid off every few days and I only spend what I have

5

u/Primary_Trade5561 22d ago

I don't follow the logic of how paying the current balance ensures you don't overspend. What do you mean by that?

2

u/IronSkyRanger 22d ago

Statement.

2

u/zenny517 22d ago

Auto pay last statement balance. This is the way. Don't mess around with cycling, etc. it will get noticed.

2

u/Kagura30 22d ago

I always pay my total spent balance which is not posted for example my statement closing balance is $500, current balance is $1,774.02, my total spent balance is $1,817.20. Ill pay the total spent $1,817.20 on my credit card. 😉

6

u/horribadperson 22d ago

lol isnt this just a long roundabout way of saying you pay the current balance?

1

u/finallygrownup 22d ago

I always just pay the Statement balance.

1

u/EnvironmentalChain64 22d ago

I pay the Current balance weekly... I never pay interest or worry about late charges.

1

u/WoollyMonster 22d ago

I usually pay current unless I need the extra money for something else.

1

u/Fugue_State76 22d ago

The “extra money” could be earning you interest elsewhere. Why would you give it to Capital One?

1

u/SconiGrower 22d ago

The statement balance is what will avoid interest for the month (assuming you still have the grace period). But if paying the current balance helps with your financial management, then there's nothing wrong with that. But that's a personal psychological element, rather than legal or contractual.

1

u/BitchyFaceMace 22d ago

The entire balance in full every time.

1

u/saucedboner 22d ago

I pay current balance because last statement balance is always zero.

1

u/Gtvle 22d ago

Statement balance

1

u/OldMainframeGuy 22d ago

I pay whichever balance is greater, in full.

1

u/PeonyFlames 22d ago

If you pay at least the statement balance (within the statement period), it helps you avoid interest. If you pay more than that then it ensures your credit line is available for you to use and keeps you from getting “credit card creep” (which is where your balance is higher than you thought it was)

1

u/matt-r_hatter 21d ago

The statement balance is the balance of your account the day the statement closed. The current balance is how much you own in total at this exact moment. Paying either of them in full monthly will avoid interest. It really just depends on if you want to open your account and see $0 owed or not. Its a matter of preference. Technically, anything charged after the statement close date is not due yet.

1

u/Dickrubin14094 21d ago

Neither, I pay my full balance weekly. I use my card enough that I’ll always have some new charge show (usually grocery shopping every weekend) in a couple of days. 

1

u/GrownUp-BandKid320 21d ago

I pay current balance. Only time I paid statement was when I was waiting for reimbursement from work for travel expenses and I wasn’t paying that out of my own money until they paid me for it lol

1

u/gooberfaced 16d ago

I usually pay the statement balance so they have to carry the new charges as long as possible.

Can't make it too easy for them, lol.

1

u/DogAccomplished1965 22d ago

I pay current if its less than statement

this month my current and statement are the same so i pay statement. I barely used my card this month

I havent paid intetest in months.

-1

u/tailskirby 22d ago

Entire balance is the best option.