Credit Card, Clearing Balance...

30dirtybirds

Hi All,

I recently got a smallish credit card from ASDA to help keep the cost of fuel down by saving 2p per litre.

The plan is to use the card to pay for things to get the ASDA points too but then clear it before the end of the month so that I don't get charged any interest.

However I'm a little confused how this works.

For example my first statement arrived a few days back with just £20 on it, needing to be paid by the 3rd of september, so I made a payment same day and cleared it off..

a few days later I filled up with fuel again meaning my card is now not cleared.

My question is do I just have to make the payment amount listed on my statement or do I have to be zero-balance on the 3rd of sept.

If its the later then I'm worried that a transaction I do a few days before may not appear until on the day meaning I am not zero-balance and it takes 24 hours for any payments I make to be deducted.

I would hate to be hit for the whole months interest just because of a timing thing, or do I just not use the credit card for the week leading up to the 5th?

I hope that makes sense?

P.S. I would set up a direct debit to clear it but it must be set up 6 days before the payment is due so I don't have time this month.

NickX

30dirtybirds wrote: »

My question is do I just have to make the payment amount listed on my statement or do I have to be zero-balance on the 3rd of sept.

Don't panic. You just need to pay the total amount on the statement to avoid paying interest.

Any transactions you make after the statement is produced will go onto the following months statement. You don't need to stop using the card.

ross_21096

As long as you pay what the balance on the bill is, that is fine. So once you paid the £20, the next day you could spend £200, and that wont be due until you recieve a bill asking for it (your next bill).


^What they said!

30dirtybirds

Thanks Guys, that's great news.