End of zero percent interest period

Peelerfart

Hi Guys,

Normally I'm on the Mortgage forum but I could do with your thoughts on this one.
I took out a virgin zero percent for a bit of stoozing at the end of last year and that period is now ending soon. I have repaid all but a few hundred quid and was a little bit concerned that if I let this small amount go into the interest paying period for a month or so ,would I be hit with the interest on all the money I have had outstanding for the whole year,or just the tiny bit at the end ?

Hope that makes sense !

P

WaltD

Don't worry. You won't have to pay interest on any of the money that you've repaid before the end of the zero percent period.

But beware of the interest rate they charge on outstanding balance transferred funds after the zero percent period expires ... it may be quite a high rate, and they are allowed to increase it at will!
:cool:

WaltD

Peelerfart

WaltD wrote: »

Don't worry. You won't have to pay interest on any of the money that you've repaid before the end of the zero percent period.

But beware of the interest rate they charge on outstanding balance transferred funds after the zero percent period expires ... it may be quite a high rate, and they are allowed to increase it at will!
:cool:

WaltD

Cheers Walt,
My balance was 5,000 ,it's now 200 so it would have to be a huge interest rate for it to matter. Should have it clear in a few months anyway.