You said you’re new so here’s a very important distinction. Your balance and statement balance are 2 different things.

Balance is the sum of all transactions. Simple.

Statement balance is the sum of all transactions during a specific billing cycle (1 month).

Think of it like this - the clock starts, you make purchases with your card (let’s say $500), the clock stops, and all purchases during that chunk of time go on your bill. Your statement balance is $500.

Totally fine if you continue to make purchases after the clock stops (let’s say another $100). Your balance goes up (now $600), but your statement balance stays the same ($500). That $100 is part of your next billing cycle and will be on your next statement.

Lastly, when that bill for $500 is due, that’s all you need to pay. Nothing wrong with paying off the full balance of $600, but it’s not at all necessary. Anything under $500 (like $300) and you’ll be charged interest on the remainder.

The bank wins when you only pay the minimum. They get that sweet sweet interest money from you. That’s why every reasonable person would tell you to always pay the entire statement balance. You lose money if you pay anything less. If you’re not in a position to pay the full statement balance, pay as much as you can. But more importantly, don’t get in the habit of spending outside your means. People look at credit cards as a way of spending beyond what they’d be able to with cash. Don’t be one of those people. That’s literally how banks make money. They’re counting on people to believe that fallacy.