I tried reading related questions, but I can't seem to digest how credit cards really works.
Here is the scenario:
Credit limit: 15,000.
Period: (24-Nov-2016 to 23-Dec-2016): 9000 full amount to repay
Due date: 19-Jan-2017
Let's say I do the following transactions:
- 27/12/2016: -5600 (purchase) --> balance: -14,600 (available credit: 400)
- 15/01/2017: +9100 (repayment) --> balance: -5,500
- 17/01/2017: -700 (purchase) --> balance: -6,200
No more transactions, and due date 19th Jan comes.
What just happened here?
Did I repay the Credit Card in full or did I only pay 8800?