Advice: Credit Cards and Interest free periods (M&S)

McCreary

Hi there,

I currently have three credit cards, which I clear every month and use instead of my debit card for various benefits. Amazon Mastercard (cashback on Amazon purchases), Amex Platinum (cashback for shopping/petrol) and Santander Zero (for spending abroad with extra fees).

I want to buy a new TV and would like to spread the payments over the course of a year. I have therefore applied for an M&S Credit Card as they have a 15 month interest free period at the moment. Am I right in assuming that if I pay for the TV on the M&S Credit Card, make at least the minimum payments each month and clear the balance in full before the end of the interest free period then I will not pay anything 'extra' at all?

Sorry this may seem obvious to some but I have never used a credit card like this before and I want to make sure before I do it!

Thanks

OllyM

Yes, what you have said is spot on. Just make sure you don't miss a payment as you will lose the promotional rate.

jonesMUFCforever

............Also check and double check the actual date that the promotional period ends - it will not be the statement or payment date of the 12th statement.

McCreary

Thanks! I plan on setting up a direct debit for the minimum payment each month. However, some months I will pay more. Is it okay to make an additional debit card payment each month in addition to the direct debit?

InsertWittyName

Yes, no problem with that.

McCreary

InsertWittyName wrote: »

Yes, no problem with that.

That's great! Got an email confirming that they will be sending documentation for me to sign. Although the email did say that I can start enjoying my 10 month interest-free period when I get the card. The website says it's 15 months. I wonder if they just haven't updated the automated email or if they have given me 10 months interest free?