Statement balance
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What you owed on the statement closing date. Your current balance is everything up to right now. To avoid interest, pay the statement balance, in full, by the due date.
The minimum avoids a late fee, not interest. The current balance is fine too, just not required. The statement balance in full by the due date = $0 interest.
Your card usually reports your statement balance to the credit bureaus, so the day the statement closes is the day lenders and landlords see how much of your limit you’re using.
From FILE 004: the two dates on every card, or check a purchase with the free First Card Calculator.
Sources
Official and government data first. Every quote is word for word; follow the link to check it yourself.
Experian · “Statement Balance vs. Current Balance: What’s the Difference?”
“If you pay the statement balance (or more) by the due date, you maintain your credit card’s grace period and won’t accrue interest on new purchases.”
experian.com (opens in a new tab)Experian · “Statement Balance vs. Current Balance: What’s the Difference?”
“If you pay the statement balance (or more) by the due date, you maintain your credit card’s grace period and won’t accrue interest on new purchases.”
experian.com (opens in a new tab)