Vanquis - Silly Question about payment dates

hoffage123

Hi,

I spoke to Vanquis the other day who said that my statement date is 02 Jan 2012 and my maximum payment date is around 27 Jan 2012 for that month.

Now, in terms of interest ... does that mean I have until the 27th to pay it off interest free, or will interest accrue during that period?

I am going to pay it off as soon as the statement is produced anyway, but as it has been a while since I had a credit card, just wanted to run it past you guys (just paranoid about making mistakes really!)

lisyloo

They normally give you a date by which payment MUST REACH THEM.
You need to allow for clearance times (and post if ncessary).

If you pay it off in time there will be no interest (assuming you started with zero balance), but you must allow even for clearance even if paying cash over the counter.