Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

 Statement balance and outstanding balance, what is the different ?

views
     
Human Nature
post Oct 30 2021, 11:58 AM

- student of human nature -
*********
All Stars
26,533 posts

Joined: Jan 2003
Outstanding balance = statement balance + any amount used after the statement is generated
Human Nature
post Oct 30 2021, 12:16 PM

- student of human nature -
*********
All Stars
26,533 posts

Joined: Jan 2003
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.

if 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  smile.gif
*
Which part is incorrect? You are just stating it in another way
Human Nature
post Oct 30 2021, 12:19 PM

- student of human nature -
*********
All Stars
26,533 posts

Joined: Jan 2003
QUOTE(Ickythump @ Oct 30 2021, 12:17 PM)
im still confusing , which one is actually i need to pay ? or its it combined together ?

AFAIK outstanding balance is the ACTUAL balance i owned from bank

is statement balance just a reference or some sort ??
*
Statement balance is related to the billing period. Spend some time to read here:
https://forum.lowyat.net/index.php?showtopi...post&p=84781095

This post has been edited by Human Nature: Oct 30 2021, 12:21 PM
Human Nature
post Oct 30 2021, 12:27 PM

- student of human nature -
*********
All Stars
26,533 posts

Joined: Jan 2003
QUOTE(koja6049 @ Oct 30 2021, 12:23 PM)
outstanding balance can be less than statement balance due to cashbacks  smile.gif
*
Well same la, then the second part become negative. The equation still valid tongue.gif

Human Nature
post Oct 30 2021, 12:37 PM

- student of human nature -
*********
All Stars
26,533 posts

Joined: Jan 2003
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  smile.gif
*
QUOTE(koja6049 @ Oct 30 2021, 12:31 PM)
Simple scenario:

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)

smile.gif
*
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.

This post has been edited by Human Nature: Oct 30 2021, 12:38 PM

 

Change to:
| Lo-Fi Version
0.0202sec    0.91    6 queries    GZIP Disabled
Time is now: 19th December 2025 - 08:45 PM