Tuesday, June 08, 2010
Banks charge interest on all your purchases if you withhold anything during a vendor dispute
The bank has never charged interest when the “amount due at statement” was paid, but if any portion is not (even one penny), it seems to charge interest all the time on all your purchases, even that not billed yet. That is sneaky! Therefore, if you would want to avoid any interest, you would have to pay disputed charges and wait for a vendor to refund.
I often have one dispute or another from time to time; usually I have $25-$100 in dispute among my cards much of the time.