Tom J
Organiser: South Wales
Premium Member
Registered: 8th Sep 03
Location: Bridgend
User status: Offline
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You can get up to 56 days interest free on purchases, if you pay off your balance in full each month
How does this work?
surely if i have to pay the balance off in full its impossible to have 56 days interest free as you wouldn't be able to go longer than a month as you have to pay it off in full every month? or am i missing something
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Nismo
Member
Registered: 12th Sep 02
User status: Offline
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you would have a minimum payment per month (a % of the total amount) but you would have 8 weeks to clear the card before interest is applied to the purchases.
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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With mine whatever the balance is on the 14th of the month is the amount that gets taken by direct debit at the beginning of the next (ie. 2 weeks later).
It means if you time purchases right, you can get 6 weeks interest free.
So, spend £300 on the 13th of the month and you have to pay it on the 1st (around 17 days later).
Spend the same amount on the 15th after the DD amount has been fixed and you pay it the following month (around 47 days later).
Make sense?
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Rob_Quads
Member
Registered: 29th Mar 01
Location: southampton
User status: Offline
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If you buy something right at the start of the month/cycle.
You get a bill at the end of the month/cycle.
You have 30 days to pay.
Thus you could have almost 2 months interest free.
On average it will be 1.5 months if you paid on the last possible day.
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