Quick Answer: Why Is Current Balance And Available Balance Different?

Can I spend the money in my current balance?

In those cases, you can only spend your available balance (or less if you have outstanding checks), and the rest of the money is being held by your financial institution.

Current balances include all of your money, including all available funds PLUS funds that are being held..

How long until current balance becomes available?

The current balance is what you have in your account all the time. This figure includes any transactions that have not cleared such as checks. Depending on both the issuing bank and the receiving bank’s policies, check deposits may take anywhere from one to two days to clear.

What is the difference between current balance and remaining balance?

Current Balance: What’s the Difference? Your statement balance is the amount you owe on your credit card as of the latest billing cycle. … Your current balance refers to all unpaid charges on an account, up to the date of your inquiry.

Why is my current balance so high?

So if you’ve made a few purchases since your statement closing date (the date that one billing cycle closes and after which the next begins), then your current balance will be higher than your statement balance. … Paying your statement balance in full before or by its due date can help you save money on interest charges.

Can I spend my current balance on my credit card?

You can spend up to this limit. If your account has a credit current balance or the pending transaction is a payment, the available credit will be your credit limit plus the credit current balance plus the credit pending transaction.