How can I know the minimum due credit card payment and date for an ANZ Visa card?
You are in luck, I have an ANZ credit card as well. I have just checked my paper statement with online, and was able to find a matching online statement in less than a minute. You simply click on your credit card account from the list of accounts. Under Date Range it will have the Current incomplete statement period. You simply click on the down arrow and select the last complete date range ending sometime in late April (depending on your credit card cycle). You then press on View next to the drop down box. This should provide you with a list of purchases and payment/credits for that period, followed by a line with your Credit Limit, Available Funds and Closing Balance. The line below that then shows your Due Date, and Overdue/Overlimit, the Minimum Payment and Amount Due Now If you are after paying only the minimum amount then you pay this amount by the due date (you will be charged interest if you only pay this amount). If, on the otherhand, you wish to avoid paying any interest then you need to pay the full Closing Balance before the due date. You should also be able to get electronic statements sent to your email address.
"I think your confusion comes from the negative impact when a creditor writes off your bad credit and ceases attempting to collect it. ""Chargebacks"" as you call them are an attempt to undo fraudulent charges on your card, whether from stolen credit card info or from a merchant who is using shady business practices. For what it's worth, if you joined on December 20, January 20 seems like a reasonable date for the next billing cycle, with the December 31 date reflecting the fact that their system couldn't automatically bill you the day you joined. I also think it's reasonable for you to ask them to refund the bill for the second month if you do not plan to use their gym further. So the dispute seems like a reasonable one on both sides. Good luck." Bigger than the three mentioned above is on-time payment and/or collections activity. If your report shows you have not paid accounts on time, or have accounts in collections, that is almost guaranteed decline except for the least desirable cards. Another factor is number of hard inquiries. If you have been on a recent application spree, you will get declined for too many recent inquiries. Wait 12-18 months for the inquiries to roll off your report. Applications for business cards are a little tricky depending on whether you are applying as an individual or as an employee of a corporation. I usually stay away from these as you can be liable for company debts you did not charge under the right circumstances. Thanks it is problem for class and I don't want to give the problem I just want to understand how to actually do it and the book hasn't been much help. Only additional information I can provide is   In Inventory – 15 days Accounts Receivable outstanding – 35 days Vendor credit – 40 days Operating Cycle – 50 days The fact that your credit card has seen the payment is strong evidence that the transaction did in fact take place.  But it's not unusual for there to be a delay of one or two business days before transactions show up in your online banking records.  Saturday and Sunday are not business days.   I bet you will see it on Monday.  If it's not there by Tuesday, you could call the bank. "The best answer to this is: Read the fine print on your credit card agreement. What is common, at least in the US, is that you can make any charges you want during a time window.  When the date comes around that your statement balance is calculated, you will owe interest on any amount that is showing up as outstanding in your account.  Example...  To revise the example you gave, let's say Jan 1. your account balance was $0. Jan. 3rd you went out and spent $1,000.  Your account statement will be prepared every XX days... usually 30. So if your last statement was Dec. 27th, you can expect your next statement to be prepared ~Jan.24 or Jan. 27.  To be safe, (i.e. not accrue any interest charges) you will want to make sure that your balance shows $0 when your statement is next prepared.  So back to the example you gave--if your balance showed $1,000... and you paid it off, but then charged $2,000 to it... so that there was now a new set of $2,000 charges in your account, then the bank would begin charging you interest when your next statement was prepared.  Note that there are some cards that give you a certain number of days to pay off charges before accruing interest... it just goes back to my saying ""the best answer is read the fine print on your card agreement.""" The balance is the amount due. The first thing you need to do is look at your terms and conditions of your credit card, or ask your bank, how they will apply the payments.  As Dilip notes in his answer, in the US, they will likely apply the minimum payment to the lower rate balance, and then must apply the rest above the minimum to the higher rate balance.  In other countries, this will vary by law and custom.  Do not assume it will pay off the higher balance, or proportionally, without asking. Let's take the following example. You owe $6000.  $5000 is at 13.5% (normal purchase rate) and $1000 is at 22% (cash advance rate).  If your bank applies payments to both balances proportionally, then a payment of $600 will reduce your purchase balance by $500 and your cash advance balance by $100. The average APR, then, is simply sum of the product of the APR times balance.  So here, (.135*5000 + .225*1000)/6000 = 15%.  This is called a weighted average. If the bank applies the payment differently - such as to the lower rate first, or some specified part to the lower rate and the rest to the higher rate - then this will be misleading if you enter it into a calculator, because your average APR will rise over time as you pay off the purchase balance but don't pay off the cash advance balance, or may decrease if the opposite happens. The weighted average is probably reasonably close in the circumstance that you describe, even if you have rules applying the balance differently, so long as they don't 100% pay down the lower rate - so it may be the simplest option for you in terms of rough calculations (where it's not critical to be correct, just close). One approach using the online calculators that might be better, is to treat these like two separate loans/cards.  Many calculators exist for multiple balances.  Then you can allocate funds differently to the two 'cards'.  This would allow you to see how long you will need until you've paid off the higher balance, for example, although it probably won't perfectly match things - unless you find a site that has this specific option available you probably will have to either live with a small error in your calculations or do the math by hand. "There are some loan types where your minimum payment may be less than the interest due in the current period; this is not true of credit cards in the US.  Separately, if you have a minimum payment amount due of less than the interest due in the period, the net interest amount would just become principal anyway so differentiating it isn't meaningful. With credit cards in the US, the general minimum calculation is 1% of the principal outstanding plus all interest accrued in the period plus any fees.  Any overpayment is applied to the principal outstanding, because this is a revolving line of credit and unpaid interest or fees appear as a charge just like your coffee and also begin to accrue interest.  The issue arises if you have multiple interest rates.  Maybe you did a balance transfer at a discounted interest rate; does that balance get credited before the balance carried at the standard rate?  You'll have to call your lender.  While there is a regulation in place requiring payment to credit the highest rate balance first the banks still have latitude on how the payment is literally applied; explained below.   When there IS an amortization schedule, the issue is not ""principal or interest"" the issue is principle, or the next payment on the amortization schedule.  If the monthly payment on your car loan is $200, but you send $250, the bank will use the additional $50 to credit the next payment due.  When you get your statement next month (it's usually monthly) it will indicate an amount due of $150.  When you've prepaid more than an entire payment, the next payment is just farther in to the future.  You need to talk to your lender about ""unscheduled"" principal payments because the process will vary by lender and by specific loan. Call your lender.  You are a customer, you have a contract, they will explain this stuff to you.  There is no harm that can possibly come from learning the nuances of your agreement with them. Regarding the nuance to the payment regulation: A federal credit card reform law enacted in May 2009 requires that credit card companies must apply your entire payment, minus the required minimum payment amount, to the highest interest rate balance on your card.  Some credit card issuers are aggressive here and apply the non-interest portion of the minimum payment to the lowest interest rate first.  You'll need to call your bank and ask them." "Well, I answered a very similar question ""Credit card payment date"" where I showed that for a normal cycle, the average charge isn't due for 40 days. The range is 35-55, so if you want to feel good about the float just charge everything the day after the cycle closes, and nothing else the rest of the month. Why is this so interesting? It's no trick, and no secret.  By the way, this isn't likely to be of any use when you're buying gas, groceries, or normal purchases. But, I suppose if you have a large purchase, say a big TV, $3000, this will buy you extra time to pay. It would be remiss of me to not clearly state that anyone who needs to take advantage of this ""trick"" is the same person who probably shouldn't use credit cards at all. Those who use cards are best served by charging what they can afford to pay at that moment and not base today's charges on what paychecks will come in by the due date of the credit card bill." "Yes it is possible, the Google Summer of Code students have been doing so for years. They get a Prepaid card and then can spend that in there local countries. They have the billing address as Google and the shipping address as their own. A few retailers have trouble but that just their systems. The trouble people have had is more in transferring the money to their personal accounts, usually there is a charge on this transfer. Transfer money from US (""prepaid"") VISA Debit to AU bank account" "Here is how the Visa network works: A Visa transaction is a carefully orchestrated process. When a Visa   account holder uses a Visa card to buy a pair of shoes, it’s actually   the acquirer — the merchant’s bank — that reimburses the merchant for   the shoes. Then, the issuer — the account holder’s bank — reimburses   the acquirer, usually within 24 to 48 hours. Lastly, the issuer   collects from the account holder by withdrawing funds from the account   holder’s bank account if a debit account is used, or through billing   if a credit account is used. I read this to mean the Merchant's Bank (the Acquirer Bank) gives the merchant the money within 2 days via the Card Issuer's Bank. The issuing bank is the one that provides the ""credit"" feature since that bank won't get reimbursed until the shopper's bill is paid (or perhaps even longer if the shopper carries a balance). You'll notice the Credit Card company (Visa/MC/etc) is only involved in the process as a way of passing messages. Of course they take a fee for this service so seller ultimately get's less than the buyer bought the shoes for." "There are always little tricks you can play with your credit card. For example, the due date of your statement balance is not really set in stone as your bank would like you to believe. Banks have a TOS where they can make you liable to pay interest from the statement generation date (which is a good 25 days before your due date) on your balance, if you don't pay off your balance by your due date. However, you can choose to not pay your balance by your due date upto 30 days and they will not report your late payment to credit agencies. If they ask you to pay interest, you can negotiate yourself out of it as well (although not sure if it will work every-time if you make it a habit!) Be careful though: not all banks report your credit utilization based on your statement balance! DCU for example, reports your credit utilization based on your end-of-the-month balance. This can affect your short term credit score (history?) and mess around with your chances of pulling off these tricks with the bank CSRs. These ""little tricks"" can effectively net you more than 60 days of interest free loans, but I am not sure if anyone will condone this as a habit, especially on this website :-)" In my experience dealing with credit cards and store cards, you may find that the store card is much more flexible than the credit card in terms of the enforcement of the card agreement.  For instance, I've missed payments on credit cards and only been 1 day late and saw a rate increase, but on a store card when the same thing happened, it was like they didn't even notice.  Granted, this was a 100% store card with no VISA/MC logo on it, and it was through their bank. This may not be true of all store cards and your experience may differ, but I felt like the store card was more of a tool for acquiring the merchandise and helping the store make a sale than it was for some big bank to make money off of my interest. With credit cards, you are the product, and the bank makes money purely from interest. The store, on the other hand, makes money from selling the product, and credit helps increase sales. My suggestion is to avoid credit altogether as all debt is risk, but if you must use credit, you may have a better experience with the store card. Of course, don't forget to consider the interest rates, payment plan, and other fees that may apply as they may affect your decision in terms of which to go with. Unless you're running a self-employed business with a significant turnover (more than £150k), you are entitled to use cash basis accounting for your tax return, which means you would put the date of transactions as the payment date rather than the billing date or the date a debt is incurred. For payments which have a lag, e.g. a cheque that needs to be paid in or a bank transfer that takes a few days, you might also need to choose between multiple payment dates, e.g. when you initiated the payment or when it took effect. You can pick one as long as you're consistent: You can choose how you record when money is received or    paid (eg the date the money enters your account or the date a cheque   is written) but you must use the same method each tax year. Check with your bank, usually a statement is either at the same day of month (e.g.: every 15th of the month), or every 30 days (e.g: March 15th, April 14th, May 14th, so forth). From my experience, most credit cards use the same day of month strategy. Keep in mind that if the day is not a business day (e.g.: weekend), the statement is closed either the previous or the next business day.