"billed deferred interest"??

nextyeartina

what does "billed deferred interest" mean?? i've always paid my argos card on time, sometimes it might only be the min payment. don't understand. thanx for any advice

t, x

nextyeartina

i also have a tesco card with 18 months interest free credit. will the same thing happen with this in august when offer is up?? credit limit is £2750 - what will this amount to?? any help much appreciated. thanxxx

nextyeartina

bump bump

t, x

chanz4

its where you had a buy now pay later, you didnt pay it off in full so its intrest from when you bought it

nextyeartina

ahh, right. so will the same thing happen in august with my credit card??

t, x

bobbydrake50

It won't happen on a normal credit card - ie 16 months interest free then 17th month youo will pay interest on the outstanding balance not on what you originally borrowed.

nextyeartina

such relief!! thanxxx

Shelldean

Like Chanz4 stated it where you have a buy now and pay later. With argos and argos alone, if the balance isn't cleared by the time the pay later date arrives, they will add interest to the ac but will date it from the date of purchase. So you ONLY benefit from interest free IF the balance is cleared before the due date.