What is considered PIF

[futurehomeowner?]

Say I have a statement balance of $100 due on 12/02 but on 11/20 I made a purchase for $200. When I make my payment on 12/02 should I be paying just what my statement said ($100) or the entire account balance ($300)?

[Rebuilding2010]

What do you mean by "should you be paying"? If you're just looking to avoid finance charges they would only be based on the statement balance, not new charges that occurred after the period closed.

[mendelssohn]

When people on CB talk about PIF, it generally means before the statement is generated. In other words, you would not have a statement balance due because you would have paid everything to $0 before the statement was generated.

[futurehomeowner?]

When people on CB talk about PIF, it generally means before the statement is generated. In other words, you would not have a statement balance due because you would have paid everything to $0 before the statement was generated.

I guess that makes sense. I was thinking people received a bill and then paid it off. I am more concerned about making the processor happy because they gave me a crappy limit and said no on recon. Probably due to my huge app spree. I wanted to make sure they liked me so I could get a CLI in a few months.

 

BTW, it is Barclays Arrival card

[cashnocredit]

 

When people on CB talk about PIF, it generally means before the statement is generated. In other words, you would not have a statement balance due because you would have paid everything to $0 before the statement was generated.

I guess that makes sense. I was thinking people received a bill and then paid it off. I am more concerned about making the processor happy because they gave me a crappy limit and said no on recon. Probably due to my huge app spree. I wanted to make sure they liked me so I could get a CLI in a few months.

 

BTW, it is Barclays Arrival card

 

 

"Pay in Full" normally means paying the bill in full after you receive it. I use the term "Prepay" to refer to PIF before the statement cuts but after your charges post. The latter is a widely used technique here for maximizing FICO scores so long as you don't do that with all your cards. Let a balance report on one but, of course, pay it in full after you get the statement.

[shifter]

PIF just means you don't carry a balance and pay interest.

[BDK]

PIF = any balance less than or equal to $0.00.

[CTSoxFan]

 

 

When people on CB talk about PIF, it generally means before the statement is generated. In other words, you would not have a statement balance due because you would have paid everything to $0 before the statement was generated.

I guess that makes sense. I was thinking people received a bill and then paid it off. I am more concerned about making the processor happy because they gave me a crappy limit and said no on recon. Probably due to my huge app spree. I wanted to make sure they liked me so I could get a CLI in a few months.

 

BTW, it is Barclays Arrival card

 

 

"Pay in Full" normally means paying the bill in full after you receive it. I use the term "Prepay" to refer to PIF before the statement cuts but after your charges post. The latter is a widely used technique here for maximizing FICO scores so long as you don't do that with all your cards. Let a balance report on one but, of course, pay it in full after you get the statement.

 

 

This ^^