Registered Nurse RN

Registered Nurse, Free Care Plans, Free NCLEX Review, Nurse Salary, and much more. Join the nursing revolution.

  • RN
    • Nursing Clinical Skills
  • Nursing Videos
  • Blog
  • Nursing School
  • Nursing Care Plans
  • Nursing Quizzes
  • Nursing
  • Nursing Jobs
  • NCLEX Review
  • Store

Pay Last Statement Balance or Current Balance to Avoid Credit Card Interest?

Do you pay last statement balance or current balance to avoid credit card interest? If you are a thrifty credit card user, then you know that paying your card off every month will help you avoid those sky-high interest charges. But if you have purchased lots of items, you may be confused as to whether or not you need to pay the “Current Balance” or the “Last Statement Balance” (or “Statement Balance”) to avoid interest charges. This article has the answer you need.

Which to Pay to Avoid Credit Card Interest? Last Statement Balance vs. Current Balance:

If you are looking for the short answer to the question: Statement balance is what you need to pay each month to avoid interest.  In general, most credit cards allow a grace period to pay your purchases off before they begin to accrue interest charges. This is great, and I love this feature about credit cards. But to avoid the interest, you MUST be sure to pay this amount off in full each month.

But I first became confused one month when I made several big purchases when my wife and I bought our first home. Naturally, I didn’t want to have to pay the full balance off if I didn’t have to. I also didn’t want to pay any interest, and would have been happy to pay it in full if the alternative was an interest charge.

So as I went to pay my bill, there was 2 different amounts I could pay: the Last Statement Balance, and the Current Balance. Hmm, this confused me. The statement balance was lower, and the current balance was much higher. So which did I need to pay, and why were the amounts different?

The difference in the amounts was due to the fact that the old statement had given the charges I made during that period. Since I had used my card since the last statement was printed, I had accrued new charges. Therefore, the total credit card balance (called current balance), was higher than the “Last statement balance.”

Since the current balance includes purchased I had just made, I didn’t have to actually pay those off because they hadn’t yet accrued interest (they were still in the “grace period”). All I was required to pay was the actual “Last Statement Balance” to avoid interest charges.

So, I payed the last statement balance in full, leaving a small balance on my card from purchases I had recently made. When I received my next credit card bill, I had not been charged any interest, even though I did have some charges left after paying the “Last statement balance.”

And to this day, I still just pay the “statement balance” in full, regardless of how much the current balance is. That way, I make sure I have avoided all interest charges from month to month.

Please Share:

  • Click to print (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • More
  • Click to share on Reddit (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
  • Click to share on Pocket (Opens in new window)
  • Click to share on Telegram (Opens in new window)
  • Click to share on Skype (Opens in new window)
Nursing Gear

RSS Latest YouTube Videos

  • Do Nurses Remember Everything They Learned in Nursing School?
  • Gliding Movement of Joint | Anatomy Body Movement Terms | Body Planes of Motion
  • Barbiturates Pharmacology Nursing NCLEX Review Mechanism of Action
  • Circumduction Movement: Hip, Shoulder, Thumb, Fingers, Wrist, Ankle, Toes, Head

Recent Posts

  • Gliding
  • Gliding Quiz
  • Barbiturates Pharmacology Nursing NCLEX Review on Anxiolytic, Sedative-Hypnotic
  • Circumduction

Disclosure and Privacy Policy

This website provides entertainment value only, not medical advice or nursing protocols. We strive for 100% accuracy, but nursing procedures and state laws are constantly changing. By accessing any content on this site or its related media channels, you agree never to hold us liable for damages, harm, loss, or misinformation. See our full disclosure and privacy policy. Copyright Notice: Do not copy this site, articles, images, or its contents without permission.

Important Links

  • Advertise
  • Contact Us

Follow Us on Social Media

  • Facebook Nursing
  • Instagram Nursing
  • Twitter Nursing
  • YouTube Nursing

Get Free Email Updates:

Enter your email address below and hit "Submit" to receive free email updates and nursing tips.

Copyright © 2021 RegisteredNurseRN.com. All Rights Reserved.