Credit card query

[PsYTraNc3]

Your question is not stupid. How you are managing your money, is.

Why?

Spending a lot of money, you don't have....

Then I must be quite stupid for doing this on a monthly basis?
It must also then be quite stupid that using my credit limit and paying it back on a monthly bases has boosted my credit score.

Candystore stated quite clearly that he\she has the money to pay the balance and more and just wanted to know what the outcome will be...

 

[TheMightyQuin]

So you don't have a credit card, even though most offer you 30 days free interest?

Of course I have a credit card.

 

[TheMightyQuin]

Then I must be quite stupid for doing this on a monthly basis?
It must also then be quite stupid that using my credit limit and paying it back on a monthly bases has boosted my credit score.

Candystore stated quite clearly that he\she has the money to pay the balance and more and just wanted to know what the outcome will be...

If this is the OP's " monthly strategy", why does he/she no know how it works?

 

[PsYTraNc3]

If this is the OP's " monthly strategy", why does he/she no know how it works?

Might not be... but does the OP have the money to pay it back?

 

[f2wohf]

I just have a simple question on which I'm stuck.

Let's say my balance on my statement for January is -20000, minimum payment of 2000 is due by 27 Feb.

Let's imagine I pay the 20000 before the due date but spend 5000 (which will be on February's statement) before I repay the 20000.

My balance after repayment will still be -5000 and therefore will never go to 0, will I still accrue interest on the 20000 ?

Thanks