Question on 0% credit cards

Shojiki

Hi Guys,

First post so be gentle!

I have a quick question on a barclaycard i've just applied for and received. It comes with a 0% interest on purchases for the first 12 months. I'm planning on purchasing a new computer on it and paying most of, if not all of the amount before the 12 months are up.

But what i want to know is, when i reach the end of those 12 months, if i haven't paid off the balance, will i just start accruing interest on the current balance, or will i also have back dated interest from the last 12 months?

The reason i ask this is that i was hit hard by a" 6 months 0% interest" argos deal. I hadn't quite managed to pay it off by the end of the term, so they calculated all the interest i would have earned in those 6 months and slapped that on top! Don't want that to happen again.

I'm happy to pay a little interest on the remaining amount, but not on the first 12 months as well!

Any info you can give me is much appreciated.

Fruit_and_Nut_Case

Sleep easy. Broadly speaking, any interest at the end of the deal will be based just on the balance at the time. There may be a little give-and-take (you give, they take) depending on statement dates and payment dates but nothing much to be concerned with.

Curt.

I just got the same card and will and have used it for the same purpose (95% of credit used up on a brand new side by side FF and a laptop) and will try use the 12 months to pay it off, which i should manage fine but just in the odd case i go over that time to pay it off i just wanted to be sure that if i do go to like 14 months to pay it off and its too small to make a BT worthwhile that it wont rack it up from day 1. Took me forever to find out but after yelling at idiots in India for hours (trained chimps would do better than that lot) i finally decided to try finding out from someone in underwritting or in a branch - none of which could help. Eventually i got the confirmation by someone who works for barclays who had the card and explainned it will be monthly, and cumulative basd on current balance not on the history of the balance, which settled my concerns.

As it turns out i have never actually paid interest and or even worked a BT in my life but that is not really due to precision accuracy or fine calculations; rather as Fruit and Nut said above, just relax and take it easy and it'll work out - when left to its natural proccess these things work better. I need to take my own advice at times!