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Credit Card Statement Balance Explained FAST (Payment Basics 2/4)

Here's a quick explanation of a credit card statement balance. Need a new credit card? Visit creditcards.com and be responsible 😎: http://bit.ly/CashBack_HF (click "show more" to see ad disclosure) The statement balance on your credit card is simply the accumulation of everything that occurred during the billing cycle (about 30 days) and any interest or fees that have accrued as well. You'll have about 25 days to pay off at least the minimum payment before the final due date. If you pay off the statement balance in full each month by the due date, you'll be using an interest free credit card. If you don't pay off the entire statement balance in full each month, you'll lose your grace period and you'll be charged interest on all your new future purchases until you pay off the entire statement for 2 months in a row. --------------- Robinhood Free Stock (Up to $200) with Sign Up: ► https://bit.ly/hf_robinhood Webull Up to 12 Free Fracional Shares (Each $3-$3,000): ► https://bit.ly/hf_webull M1 Finance (perfect for IRA's): ► https://bit.ly/hf_M1_Finance Instagram: ►   / honestfinance   Advertiser Disclosure: Honest Finance participates in affiliate sales networks and may receive compensation by clicking through the links (at no cost to you). This compensation may impact how and where links appear in this description. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This channel does not include all financial companies or all available financial offers. --------------- Honest Finance covers a broad range of financial topics that'll give your life and finances more value. Subscribe today for future content and be sure to give this video a like! Disclaimer: I am not a financial advisor. These videos are for education/entertainment purposes only. Investing of any kind involves risk, so please conduct your own research. #honestfinance #creditcards