Credit Card Interest (am I going mad)

McDuck

I have a couple of credit cards on one if I pay the balance in full before the due date then I pay no interest.

With the other interest is charged from the following day regardless of my payment.

Which is more common?

Please help

King_Of_Fools

McDuck wrote:

I have a couple of credit cards on one if I pay the balance in full before the due date then I pay no interest.

With the other interest is charged from the following day regardless of my payment.

Which is more common?

The first is the most common (cards usually offer up to 59 days interest free).

The second only applies to a handful of cards and is only worth having if you do not pay off your balance in full (as the interest rate is usually lower).

However, all cards will behave like the later if you have not paid in full the previous month (i.e. interest is charged straight away) and will not revert to interest free until the balance is paid in full for two months in a row.