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Working out exactly when interest free period ends
mellowtimes
Posts: 24 Forumite
in Credit cards
How can I work out when the latest date is to pay off an interest free card without incurring any interest ?
I have a card that is interest fre until Jan 2010. Should I be paying it off before the Jan statement comes out or at the end of Jan or prior to the Feb statement ?
I have a card that is interest fre until Jan 2010. Should I be paying it off before the Jan statement comes out or at the end of Jan or prior to the Feb statement ?
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Comments
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It would be best to ring your card issuer and ask as some may use the statement date and some may go by from when your account was opened.0
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It's risky to try and guess, tbh.
My own estimates have proved way out because calculation methods vary considerably between lenders.
Some card companies (eg. Bank of Scotland) print the expiry date on all monthly statements. Others (eg. HSBC) write to you shortly before the promo rate ends.
If your provider hasn't made the expiry date clear (and most don't spell it out), your best move is to ring customer services and ask
People who don't know their rights, don't actually have those rights.0
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