End of Interest Free Term.

jasons6930

Hi all,

I have a credit card that the interest free period ends on the 1st april 2010.

I have read somewhere here that i should have this cleared a couple of months before this date due to the way they calculate the interest?

Could anyone help and explain to me in simple terms what i should do to avoid charges and dates i need to start paying?

Many thanks!!

Mozette

How much is outstanding on the card? You need to have that amount ready to pay before the 1st of April (less whatever minimum payments will be paid in the meantime). Otherwise you'll need to apply for a new card to BT to about 6-8 weeks prior.

td_007

jasons6930 wrote: »

Hi all,

I have a credit card that the interest free period ends on the 1st april 2010.

I have read somewhere here that i should have this cleared a couple of months before this date due to the way they calculate the interest?

Could anyone help and explain to me in simple terms what i should do to avoid charges and dates i need to start paying?

Many thanks!!

If your interest free period ends on April 1st 2010, then you need to have cleared the entire balance on the card before that date. I would recommend leaving a buffer of a week so make sure the money is paid in to reach by March 25th and you will then have no interest to pay....the good news is that there is no need to do this a couple of months in advance

If you intend to BT then apply for a BT card 1st/2nd week of March so that you will have enough time for the new card to be setup and BT to happen.