alidobbie

alidobbie

I have a Tesco Credit card with interest free on “purchases” until May 2010. I am within £750 of my spending limit and have paid in minimum payments due of £500 by Direct Debit over 5 months.

Question. Does the interest free on “Purchases” actually mean “Purchases” only? i.e. I spend my credit limit of £1000 on purchases and pay back £200 .. Balance = £800 does that still leave me to £200 to reach my limit again?

CannyJock

alidobbie wrote: »

I have a Tesco Credit card with interest free on “purchases” until May 2010. I am within £750 of my spending limit and have paid in minimum payments due of £500 by Direct Debit over 5 months.

Question. Does the interest free on “Purchases” actually mean “Purchases” only? i.e. I spend my credit limit of £1000 on purchases and pay back £200 .. Balance = £800 does that still leave me to £200 to reach my limit again?

Yes

Any purchases you make are interest free during the interest free period.

Any payments you make the card will increase the amount of "available credit" you have to make new purchases on.

Those who are especially savvy will make additional purchases on the 0% card each month to keep the card maxed out so that they're getting maximum benefit from the free facility