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Coming to end of 0% offer, how much interest will i pay?

newtotrading
newtotrading Posts: 46 Forumite
in Credit cards
Coming to the end of my Virgin Shopper 0% deal next month, and currently owe £10,700 on it. :eek: I know. What will i pay in interest each month for the first couple of months please? Useless at working these things out?

Comments

  • Tixy
    Tixy Posts: 31,455 Forumite
    What is the standard APR on the card?

    To give you an idea an APR of 16.9% would be around £150 a month in interest. An APR of 24.9% would be approx £225 a month.
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • bengalknights
    bengalknights Posts: 5,021 Forumite
    Part of the Furniture 1,000 Posts
    £180+ a month
  • Saints2011
    Saints2011 Posts: 933 Forumite
    bengalknights wrote: »
    £180+ a month

    Random figure.

    As Tixy said what APR have you got on the card?
    Can I find out my credit score?
    You do not have a single credit score or rating. Different organisations take different information into account when working out your credit score and may have different scores for different products. (Kindly from Experian)
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    The best answer we can give you is, and assuming you're on their current typical rate of 16.8% APR, £4.58 per day (calculated as £10,700 x 1.3025% x 12 / 365)

    Where 1.3025% is the monthly rate for 16.8% APR. If yours is different (see your statement, page 3 of 3), just substitute your personal rate for this figure.
  • bengalknights
    bengalknights Posts: 5,021 Forumite
    Part of the Furniture 1,000 Posts
    KirbyBirch wrote: »
    Random figure.

    As Tixy said what APR have you got on the card?

    I was using 16.9% as the interest and rounding up lol
  • cooltt
    cooltt Posts: 852 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    I'd say about £6463.26 per month.
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