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Posted in Credit Cards
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cmptrgydv

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how does the bank caculate your monthly credit card balance
so I was wondering if I was to charge something on my credit card today, and as soon as the charge showed on my account I paid it in full,
and I did that all month, so say I charged $40 each week and paid $40 the next day, how would the credit card company see that at the end of the month, just the final balance at that time, or $160 for the month,

being 4 weeks in the pay period,

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Your credit card sends an update to the credit bureau once per month. They report the balance as of that time. If you have a $40 balance on the day your card issue reports to the credit bureau, you will have a $40 reported balance for the month, regardless of how much you use the card for the rest of the month. 

Hope that helps!

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