Why you should never paid some credit card in full - small balance waiver forgiveness explained

Why you should never paid some credit card in full

Small balance waiver forgiveness explained. 

 (This method will only work at some banks) 

Some banks and credit cards will waive off the small balance at the end of you statement cycle if the balance on your statement is small. This is usually 99 cents or less – the bank will forgive it; it’s too small to ask you to pay. And Usually it will shows up on the bill as a “credit adjustment” or something similar.

The question is how much is small enough and the max you can charge to be forgiven. It all depends on the credit card issuer. 

Furthermore, only a few banks will forgive the small balance and most banks will not forgive at all. 

You can quickly search on Google for the keyword "small balance waiver" and then you will be able to see how much each banks waive. 

For example:

For Comenity Bank Credit Card most people get waived up to $2. 

For BBVA Compass credit card, you can get small balance forgiveness if your balance at the end of the cycle is less than one dollar.

And for Bank of America credit card they will not forgive any amount at all.

 

Therefore, this method will only works for some credit cards.

So what you should do is that a few days before your cycle ends, you should go pay your credit card balance but don't pay the full amount, instead leave one dollar.

For example if your balance is currently 6825 dollars, then you should only pay 6824 dollars, and at the end of the cycle, the bank will forgive the 1 dollar that is left.