0% for ever?

stratdude

Hi I have a lloyds advance mastercard which i have had for 2 years. I have noticed I have never paid any intrest since taking it out? I have used over 5K and cleared it all with no charges? I have looked at my statements and they say my 0% ends in March 2007! It just keeps getting prolonged.

My question is because they have actioned this can I get away with it? or should I come clean?

vet8

Do not come clean. If they give you free credit use it and smile.

withnell

If you are paying off in full every month this is normal - every credit card offers you up to approx 50 days interest free

NickX

If you feel a mistake has been made in your favour, my advice is to stop using the card now. Close the account in full before they realise their mistake. If they do realise what has happened they may try to claw back the uncharged interest, however if you have closed the account they are going to struggle doing this. I would advise not being too greedy on this and perhaps settling for the extra money that you have already made through their incompetence. The longer you leave it the more chance there is that they will spot the problem. Good Luck.

YorkshireBoy

withnell wrote: »

If you are paying off in full every month this is normal - every credit card offers you up to approx 50 days interest free

Following the 0% for 6 months introductory period, the LTSB Advance card does not have an interest free period on purchases.

anotherpaul_2

YorkshireBoy wrote: »

Following the 0% for 6 months introductory period, the LTSB Advance card does not have an interest free period on purchases.

I was just about to disagree, but I checked and you're correct. I didn't realise there were any credit cards that didn't give you free credit if you paid in full by the due date. I learn something new every day.

anna42hmr

it does have a interest free period (or my duo one does anyway), on the back of the statement it states the following (in the useful information box

: "interest free period: your interest free period lasts from the date a transaction for Purchases appears on your statement until the payment due date"

YorkshireBoy

anna42hmr wrote: »

it does have a interest free period (or my duo one does anyway), on the back of the statement it states the following (in the useful information box

: "interest free period: your interest free period lasts from the date a transaction for Purchases appears on your statement until the payment due date"

And the corresponding text from the Advance card's summary box states...

You'll have to pay interest on all transactions from the transaction date even if you pay your full balance by the payment date shown...

Advance card summary box

anna42hmr

looking at the web site it appears 2 cards have interest free, one doesnt(go to compare our cards section)

Features & Benefits

Airmiles Duo

Platinum MasterCard

Advance MasterCard

APR

15.9% APR Typical variable

15.9% APR Typical variable

11.9% APR Typical variable

Why choose this card?

Collect Airmiles for
flights, hotels, days
out and much more

Ideal for sorting your finances with a great balance transfer and purchase offer

Perfect for shopping with a great purchase offer and low APR

Introductory purchase offer

Interest-free days

None

Up to 56 days' interest-free period on purchases

0% interest for 3 months

Up to 56 days' interest-free period on purchases

0% interest for 6 months



N/A

stratdude

I went into the bank the weekend and as usual got pounced on when paying money in. "Do you have a credit card?" simple yes and the instant answer of "Ok, lets see if we have a better deal" so he runs away before I answer and comes back with "oh your account is 0% so no need to worry" ? Even when checked at the bank they didn't notice! Fools.