first statement advice re interest please

sunnysea83

Hi

I got my first CC statement today - i have a balance of half the amount im allowed to spend. im going to pay off in full next week so wont be any balance from this month

Howevr if i buy something on it today but dont pay it off next week as its not on my current statement will i be charged interest?

Dave101t

no, you wont.

CLAPTON

in general if you pay the balance on your statement in full each month then you pay no interest.
any additional spending made after the statement has been produced will appear on your following statement and will incur no interest if you pay that statement in full.

izools

as long as you pay the full statement balance before the due date, you won't pay interest. It's as simple as that.

Doesn't matter if you make more transactions before you pay the bill, and your balance never reaches zero, as long as you've paid the balance before it's due no interest is payable

(This of course refers to purchases and not cash withdrawls)

opinions4u

It depends on the terms and conditions of the credit card.

Most cards will not charge you any interest, unless some part of your transactions on the statement is a cash advance.

There are a handful of cards out there, often marketed with low APRs, that charge interest immediately and don't offer the interest free if paid in full option that most credit cards do.