Outstanding balance = statement balance + any amount used after the statement is generated
Statement balance and outstanding balance, what is the different ?
Statement balance and outstanding balance, what is the different ?
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Oct 30 2021, 11:58 AM
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26,533 posts Joined: Jan 2003 |
Outstanding balance = statement balance + any amount used after the statement is generated
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Oct 30 2021, 12:16 PM
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QUOTE(koja6049 @ Oct 30 2021, 12:03 PM) incorrect. outstanding balance is whatever balance you still owe to the bank. It can include spending in the statement balance, either fully or partially. Which part is incorrect? You are just stating it in another wayif you want to avoid interest, you have to pay off whatever spending up to the statement date. You cannot just rely on outstanding balance to gauge this, because sometimes if you see outstanding balance is less than statement balance, people assume they have paid off the statement balance, which is wrong |
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Oct 30 2021, 12:19 PM
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QUOTE(Ickythump @ Oct 30 2021, 12:17 PM) im still confusing , which one is actually i need to pay ? or its it combined together ? Statement balance is related to the billing period. Spend some time to read here:AFAIK outstanding balance is the ACTUAL balance i owned from bank is statement balance just a reference or some sort ?? https://forum.lowyat.net/index.php?showtopi...post&p=84781095 This post has been edited by Human Nature: Oct 30 2021, 12:21 PM |
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Oct 30 2021, 12:27 PM
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Oct 30 2021, 12:37 PM
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QUOTE(koja6049 @ Oct 30 2021, 12:28 PM) some users can be confused, because people advice them to just pay the statement balance. Then they would have overpaidĀ QUOTE(koja6049 @ Oct 30 2021, 12:31 PM) Simple scenario: This doesn't work for CIMB, they dont consider cashback as payment offset for the statement balance. Not sure if the bank has revised this nowadays.Statement balance: RM500 Cashback (before interest due date): RM100 Spending after statement date: RM500 What is shown in the outstanding balance: RM900 What you should pay to avoid interest: RM400 (not statement balance, not outstanding balance) This post has been edited by Human Nature: Oct 30 2021, 12:38 PM |
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