halifax one card 59days interest free? whats this mean

stphnstevey

So the 56 days interest free is simply if you buy something in the first few days of your billing statement? So rarely the full 56 days!

If you set up a direct debit, does it come out on the statement date (30 days) or the pay by date (56 days)?

King_Of_Fools

stphnstevey wrote: »

So the 56 days interest free is simply if you buy something in the first few days of your billing statement? So rarely the full 56 days!

Yes, you only get the full period if you purchase on the first day that will not appear on your new bill. Any other day will be less than 56.

stphnstevey wrote: »

If you set up a direct debit, does it come out on the statement date (30 days) or the pay by date (56 days)?

It comes out on the payment date.

stphnstevey

Ahh!

I always saw the 56 day period and thought I lost out on this because my DD were every month (30 days)? Can you explain this in simpleton to me!

King_Of_Fools

stphnstevey wrote: »

Ahh!

I always saw the 56 day period and thought I lost out on this because my DD were every month (30 days)? Can you explain this in simpleton to me!

Imagine you are billed each and every month on the 1st.
Assuming the previous month had 30 days then your payment date would be the 27th.

Therefore, If you bought something on 1st April it would appear on your May bill and you would have to pay it off on 27th May (hence 56 days).

However, if you bought something on 30th April it would also appear on your May bill and you would still have to pay it off on 27th May (only 28 days).

stphnstevey

Thanks

Just looked at recent Credit Card bill (which makes it alot easier to understand) and statement date is 17th Feb. The first item listed was bought on 17th Jan. My direct debit has come out on the 14th March.

I get paid expenses, which I use my credit card for. I can't put in a claim till the end of the month and it normally gets paid part way through the next month, so this seems to work well.