Does this help save interest?

compforus

I have credit card debts and would like to know if I pay for something on my card and immediately pay that amount off the card, does it give me the '50 odd' days interest free period on that particular transaction?

Or does it charge interest on everything if you do not pay the full amount off every month?

I have basic cards by Santander and Sainsburys.

CLAPTON

interest is charged on the daily balance

however if you pay in full each month then the interest isn't charged

planteria

i think it does compforus,
although i always keen 'debt' and spending on separate cards, so can't really speak from experience

jennifernil

If you do not pay in full, then interest is charged on all purchases from the date of purchase until the date you pay them off.

If you purchase something, then pay that amount to your card account, but do not pay that statement in full, you will minimise your interest. But you will not have received ANY interest free days.

The only way to get the "50 days interest free" is to purchase just after your statement date, and pay that statement in full on the due date.

ironlady2022

i'm assuming it's 59 days, you will only get this for purchases just after your billing date, the nearer you are to it, the less days you have to pay.