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Message: <blockquote data-quote="Thequestioner" data-source="post: 2717835" data-attributes="member: 302492"><p>So lets say someone owed exactly $10,000 on a credit card and had been paying minimum payments and raking up interest charges at 20%, and one day they came upon the money to pay the bill in full. The bill said you owe $10K exactly and the payment due date is December 20th. If you paid the $10,000 bill in full by December 20th would the account be totally paid off? In other words does the credit card company calculate how much interest you would owe on the principal amount if you paid the bill by the due date 12/20, OR would you have to pay the interest that accrued during the billing cycle up to the date they received the money (December 20th) in the next bill in January?</p></blockquote><p></p>