Card Clearance Date

miller

I have a Sainsbury's CC with 0% offer expiring 19/08/2006. My statement date is 21/XX/2006.

To avoid paying interest on my purchases I assume I need to clear this before 19/08?

There is something in their T&C's about the previous statement must be cleared to avoid paying interest in the next period. I guess this only applies if the interest rate is not 0% at that time.

equitydealer

Don't worry about it, if you check your statement it will say what the interest charges will be for the next month. If it says something like '0% promotional period' you are ok. Keep an eye on this!

Bloke_with_a_simple_life

IS the 0% promotion for Balance Transfers or Purchases too? Is there a different rate for both of these?

How are the payments allocated - do they pay off the highest or lowest interest rates first? Check the Ts & Cs.

Are you using your cards for both Balance Transfers and Card Purchases?

If you can answer these questions.... it may help decide what/how you should be paying off. I think the simple rule of thumb for most cards is, "never use the card for both BTs and Purchases if you want to take advantage of the BT special offers"

miller

I only used this for Purchases, no BT's. As long as I don't cut it too fine, I guess I will be OK.

King_Of_Fools

miller wrote:

I have a Sainsbury's CC with 0% offer expiring 19/08/2006. My statement date is 21/XX/2006.

To avoid paying interest on my purchases I assume I need to clear this before 19/08?

Yes, you need to have cleared the card by 19/08/2006.