So, I got a card, and let's say I was approved for $300, but the creditor promised to increase it to an actual credit line if I made five on-time payments starting in April.

So, I make a few payments, but by the third payment, I pay it off in full, and then I get a statement saying that no payment is due because there is no outstanding balance, so therefore, there will be no fourth payment. Will that fourth payment roll over to the next month, or will it simply be ignored and move on to the fifth payment?

  • 2
    "but the creditor promised to" It would depend on the nature of that promise, .i.e. the exact wording of the specific card-issuer's terms and conditions. Common sense would suggest that the wording would be more concerned with avoiding late payments, and so should only apply if there is something to pay. However, "common sense" and "terms and conditions" sometimes don't share the same bed, so anything's possible.
    – TripeHound
    Jun 24 '20 at 10:03
  • 1
    It's impossible to say without reading the wording of the offer you were made.
    – Simon B
    Jun 24 '20 at 10:55
  • I don't know if it would help to add the name of the credit issuer... Jun 24 '20 at 11:12
  • it would not. You have to post the fineprint (or read it yourself).
    – xyious
    Jun 25 '20 at 16:15

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