Credit card question

leedslad2

I have an egg credit card and i pay the full amount by direct debit each month. I do this to improve my credit rating.

Am i getting charged anything to do this? Or will i only start getting charged if i make minimum repayments.

Cheers.

IamBanksy

If you make minimum repayments, you will, in theory get charged interest, depending on which egg card you have (do you currently have 0% interest?).

There should in theory be no charge for paying off the full ammount every month, but if you DO have a 0% interest card, you may not be making the most of this benefit by paying off the full ammount. If it isn't a 0% card, then you are doing the best thing in paying off in full every month - as you will not be incurring interest charges.

HTH

skyrider007

leedslad2 wrote: »

I have an egg credit card and i pay the full amount by direct debit each month. I do this to improve my credit rating.

Am i getting charged anything to do this? Or will i only start getting charged if i make minimum repayments.

Cheers.

You won't be charged as long as you pay in full on time. If you leave a balance then there will be a charge.