Wanna get a clearer picture about credit card...

1. What happen if we didn't pay the "Minimum Payment Amount"?

2. What is "Outstanding Balance"?

3. What is "Statement Balance"?





4. How to clear/pay the "Statement Balance"?

Thanks!

This post has been edited by alexio: Oct 12 2007, 06:30 PM

Statement Balance is the amount that you owe the bank on the previous statement.. what you have to worry about is the Outstanding Balance, that is how much you're currently owing to the bank..

If you don't pay the Minimum Amount, they'll charge you another percentage of interest as Late Payment.. so.. better at least pay the minimum amount lah.. and try to keep the amount just like your printscreen now

Statement Balance is the amount you owed with the Bank as indicated in the printed statement or bill the bank sent to you. If you have clear this, you no need to worry much but if you haven't, the Outstanding Amount will be greater than this amount if you do continuously charge to your card without clearing the previous outstanding.

You don't have to worry about the outstanding amount other than using it to calculate how much credit limit you have left to avoid going overlimit and getting charged the overlimit fee. Otherwise don't worry about. Just pay your statement balance in full. I paid my credit card on the due date itself. No difference.

But, its best to pay your other bills 1-day or 2-day after the credit card billing cycle. That way bills like streamyx, maxis, astro can be paid earlier. No difference on using your credit cards to pay bills now or two weeks later as it will still appear on the current month statement but paying earlier on these accounts will ensure prompt service whenever issues arise.

1. u will be charged interest for late payment.
2. ur last total charged bill captured to date, say, yesterday.
3. ur total charged bill on statement date , say , 9th every month.
4. pay $$ lor.... .

Do you mean how to get rid of the statement balance shown in maybank2u?
after you pay it will still show it there...but it will be updated when the next statement comes out..

what i dont understand is, after i have paid the statement balance, the system still allows me to pay the statement balance. so if i click the link and pay, doesn't that mean i am paying twice??

Normally most system will not prevent customers to pay excess than the balance. So there is possible to pay twice or more than suppose amount to be paid.

Please proceed discussion regarding credit card issue in existing thread.
http://forum.lowyat.net/topic/842676/+1860