Trying to understand Statement & Amount to Pay to Avoid Interest Charges
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Hello. I'm trying to (completely) understand my statements and PayPal Account. So, I have these questions. I hope I've included enough information to get the answers I need. Also, I'm using hypothetical amounts, so I hope it makes enough sense to answer my questions. If you need more info, please ask.
1. My Statement says my Current Balance is $2600 and, to Avoid Interest Charges, I must pay $460 by the due date. My Standard Purchases add up to $100 and my Deferred Interest Purchases (No Payments - No Interest for 6 Months) that Expire this month add up to $200. To Avoid Interest Charges, shouldn't I only have to pay $300 (Standard Purchases + Expiring Deferred Interest Purchases)? Why is the "Amount to Avoid Interest Charges" so high (where does that number/amount come from)? .
2. In the "Interest Charge Calculation" Section of the detailed Statement, it reads as follows:
Balance Type: Standard Purchases
APR: 19.99%
Balance Subject to Interest Rate: $0.00
Interest Charges: $0.00
Current Balance: $250.00
Question: Where does the $250.00 come from?
Thank you in advance for your time and explaining.
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P.S. My only types of purchases were Standard and No Payments - No Interest for 6 Months. I've done the math, every which way, but still can't figure out where those numbers come from. 😕
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Hypothetical implies you are making up numbers and transactions to show something.
We need real statement information to help figure out, not hypothetical made up information.
What to you specifically want to know?
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(See "Edit" below.)
OK, Real Information:
Statement Closing Date: August 2, 2016
Amount to Avoid Standard & Deferred Interest: $444.36
Standard Purchases: Only one, $18.35
Deferred Interest Purchases:
No Payments - No Interest for 6 Months, expires 8/27, $23.53
No Payments - No Interest for 6 Months, expires 8/27, $146.50
STANDARD INTEREST CALCULATION
Balance Type: Standard Purchases
APR: 19.99%
Balance Subject to Interest Rate: $0.00
Interest Charges: $0.00
Current Balance: $274.33
Thank you again for helping! :):
EDIT: OK, so I just figured out that the Deferred Interest Purchases and that "Current Balance" add up to $444.36 --- which, I assume, includes the $18.35 Standard Purchase. BUT, where does the rest of the "Current Balance" (of the Stamdard Interestalculation) come from? I've paid no Interest, this year, to date..... but, I'm just wondering why my payment, to Avoid Interest Charges, is so much?
(It seems to me that if I pay the Standard Purchases when first billed, and the Deferred Interest Purchases that about to expire, I should have no more to pay to avoid paying interest. (My one Standard Purchase was $18.35 and my two Deferred Interest Purchases add up to $170.03. ...... $18.35 + $170.03 = $188.38.) So, why do I have to pay $444.36 to avoid interest? Where does the difference come from?)
I am SO SORRY if this is a stupid question.
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