0% credit card terms

byrne28

Hi there,

As a self confessed 'tart' I have had several 0% interest cards, paid a minimum every month by direct debit (NOT the full balance) and paid the card off in full within 12 months.

Looking to apply for a new card now I keep coming across a box in the T & C' which read something like this:

'Interest free period

• Maximum 50 days on purchases only, if you pay your statement balance in full and on time every month.
• No interest free period for balance transfers, money transfers or cash advances.
• This is subject to any interest free promotional offer.

Maximum 50 days on purchases only, if you pay your statement balance in full and on time every month.
No interest free period for balance transfers, money transfers or cash advances.
This is subject to any interest free promotional offer.'

Does this mean if I do as I have done before i.e. pay off a fixed minimum amount each month but don't clear the balance I will have to pay interest?

I've never had to pay the balance off in full each month before and on the main site, when using the 'Which is the best card for you' tool, one of the questions is whether I plan to pay the card off in full each month. When I choose 'no' I am still directed to these 0% cards. don't want to get stung....

All advice welcome.

Tixy

That offer means if you only put purchases on the card pay off in full each month you pay no interest.
If you don't pay off in full each month you will be charged at your current rate -which in the promotional period is 0%, i.e you still won't pay interest. The clause above therefore only comes into play after the 0% period ends.

Are you looking at a 0% balance transfer or a 0% purchase card?

byrne28

0% purchase card, already had top 2 so moving down the list.....!!!