0% interest free credit card period

juxta_3

Prob a daft question because haven't seen anyone else ask it but with eg a 12 month period, when exactly does the 12 months begin on the day of the first purchase or when the date the card is issued?

stephane_2

The 0% period start from the moment the account is opened....

leicsmarkyr

Although some card issuers can differ so best check with them

chattychappy

Of course you want to clear the balance by the end of the promotional period. However bear in mind that if you miss paying the entire balance back by a few days, you will only be charged for those few days calculated on the balance during that time.

This is different from the usual "up to 56 days free credit" arrangement where even if you pay only £1 short you will be charged interest on all the transactions going back to the transaction date. Ie a real "gotcha" situation.

fozmcfc

It varies in my experience, sometimes it is when your application is approved, sometimes when they receive the signed forms back and sometimes when the card is issued to you.

In all cases that should only mean a week or two.

For an example, if you applied in July 2011, then you should be studying your statements from April 2012, for any information when your 0% promotion runs out.

Be warned it is not always where prehaps you expect it to be, such as under promotions. On my Tesco card it was under important information on the first page 2 statements before it was due to run out.

Of course you could also ring them as well, although some people report that call centre staff have told them to check their statements. Possibly because they don't know or can't be arsed to look for you, cause it means pressing more than one button lol.