When does my interest free period expire?

than4

Last year I got a HSBC credit card with 0% on purchases for 12 months.
Initially, I made two large purchases on the card and another large purchase about 6 months ago.

I have been paying off a small amount each month and saving enough so that I can pay it off in full at the end of the 12 months interest free period.

However, I am a bit confused as to when this payment needs to be made to avoid paying any interest.

The account was opened mid-September 2007. My statement dates are dated on about the 10th of the month, with payment due the following month on about the 7th.

So, to avoid paying interest do I need to pay the amount off in full when I receive my August statement, which will be due about 7th September, or can I wait until I receive the September statement which will be due on the 7th October?
Or as the interest free period will have expired sometime between the two, will I be charged interest on any balance that has not been paid after this date?

I hope that is clear.
Thanks for all your help.

latecomer

It should be stated on the documentation you got when you took out the card. I suspect you will need to have cleared the balance by the date they start charging interest. From my limited experience of promotional rates, you should get a notification on one of your statements of when the rate will end when you get close.

you could always phone customer services and ask too!

YorkshireBoy

latecomer wrote: »

...you should get a notification on one of your statements of when the rate will end when you get close.

It's usually on the penultimate intro period statement.

you could always phone customer services and ask too!

If you do, then make a note of the CSA's name, ext number etc. Better still, use HSBC's online secure message system (assuming you're registered for online account management?).

exel1966

Ring them and ask as there are different rules for different cards.

Some have to be paid within the 12 calendar months, some permit you to pay by the due date after the 12 calendar months. Some take commencement of 12 months from the purchase/BT date, some take it from the account opening date. Some even backdate it to the 1st of the month regardless of whether you've had your full interest free term or not !

than4

Thanks, I did have a look through my paperwork last night and could only find

"12 months interest free on purchases from date of account opening"

and I am not 100% sure what date I openend the account, and this is not written on the paperwork anywhere.

I might have to log on to the website and see if I can backtrack my statements till the opening of the account.

Thanks

King_Of_Fools

Does it not list the introductory offer in the rates summary table on each bill?