Credit card statement question (Kohls)

[PrincessGrownUp]

I charged around $300 on my Kohls card. I received my bill and expect to pay the statement balance (approx. $300) to avoid interest charges. However - it says "Pay this amount to avoid interest charges: $100". How can that be? Is it only Kohls that does this?

 

[CalDisneyMomof2]

Was all $300 charged before the end of the billing cycle?

 

[BellePrincessBelle]

Kohl does not charge interest if you pay approx 1/3 the balance. It's been like that for years.

 

[CalDisneyMomof2]

Kohl does not charge interest if you pay approx 1/3 the balance. It's been like that for years.

Huh. Did not know that!

 

[PrincessGrownUp]

Oh wow, that's good (or bad) to know! Thanks!

 

[Ava]

I did not know this either until I made a good amount of purchases on my Kohl's charge last holiday season. I really only shop there around the holidays so it was nice to be able to spread out the payments over a few months!

 

[CalDisneyMomof2]

I just read it doesn't apply to everyone. Only 5 states.

 

[wendow]

I just read it doesn't apply to everyone. Only 5 states.

Yep, we used to have that here in CO but they took it away a couple of years ago.

 

[ruadisneyfan2]

I just read it doesn't apply to everyone. Only 5 states.

We have that here in NJ.
Once your balance gets below $150, it no longer works out to 1/3 of the balance. The lowest payment to avoid interest is $50. So if your balance is $102, it's $50, not $34, to avoid interest.
Weird that this wouldn't apply to all 50 states. Why should that matter?