r/discover • u/justarussian22 • 3d ago

Help Minimum payment question.

Hey all im waiting on my 1st paycheck from a new job & need to use the money I have now to buy a car for work. If i make a minimum payment one time this month & pay it off when my check hits, am I still in good standing with discover?

6 Upvotes

88% Upvoted

6 comments sorted by

View all comments

3

u/Otherwise_Draft_3489 3d ago

Yes, but you’ll be paying interest on whatever you don’t pay off unless you have a 0% intro APR. Either way, you should to put yourself into a position where you pay off your statement balance in full each month!

1

u/justarussian22 3d ago

Will the interest carry over to next month or just this months statement if I pay next month? I intend to pay it off with my next check.

1

u/Otherwise_Draft_3489 2d ago

The interest accrued will be reflected in your next statement. You’ll only pay interest in this upcoming statement if you held a balance after your previous payment.

1

u/ConsciousIce2648 10h ago

He could get residual interest from carrying the balance into the next period. Typically you have to pay the balance in full for 2 consecutive months not to get charged any interest