Student wanting Credit Rating

CLAPTON

What it's saying is that if you pay in FULL each month then you pay no interest... if however you don't pay in full then you will pay interest from the day you made the purchase to the day its paid off.

Except however, if your are foolish enough to withdraw cash ... then you pay from the day you withdraw it to the day it's paid off and also a fee. ... and note that using betting sites or buying foreign currency count as cash.


Also just to be clear the way the card billing cycle works is this

say you buy some things over a week or two.
they will decide a billing date lets say 25th of the month (lets say January.. everything you have bought prior to that date will be on the bill.
the bill will tell you when you must pay by.. say February 20.
So as long as you pay by 20th Feb, you will pay no interest (must be cleared funds by then).
You can continue to spend however and that spending will appear on your February bill date 25th .. which will give you to 20th March to pay in full before any interest is charged.
If you set up a DD for the full amount it will automatically come out of your current account.

LouisCross

Thats very helpful thanks Clapton. I got confused 'cause it made it look like even if I paid IN FULL by the "PAY BY DATE" - I'd still pay interest from the day it was purchased.