Will I pay interest?

[Deleted User]

Ok so posted last week and got some advice about paying interest on my credit card.

I have just had my statement for this month,

It says, min payment 0.00
Balance 0.00
Next moths interest 0.00

So if I spend now will I have to pay interest as long as I pay when they ask (in full) on the next statement?

Many Thanks

YorkshireBoy

No........

[Deleted User]

Thanks I was really unsure.

Better_Off_1983

I have a couple of credit cards, only spend £20.00 a month on there.

This is how I do it...

On credit card one, the statement is made up on 4th of the month, so I use the card on the 3rd of the month because the transaction will not be billed until the 5th or 6th. Meaning, that the FULL minimum payment will not be due until the next month

Same with credit card two- the statement is made up on 12th of the month, so I use the card on the 11th of the month, so instead of a payment being due 25 days later - its due about 56 days later.

If you have a balance on your account and do not pay off the full balance each month, that is when interest accrues.

I asked the same question as you a few weeks ago!

katejo

Better_Off_1983 wrote: »

I have a couple of credit cards, only spend £20.00 a month on there.

This is how I do it...

On credit card one, the statement is made up on 4th of the month, so I use the card on the 3rd of the month because the transaction will not be billed until the 5th or 6th. Meaning, that the FULL minimum payment will not be due until the next month

Same with credit card two- the statement is made up on 12th of the month, so I use the card on the 11th of the month, so instead of a payment being due 25 days later - its due about 56 days later.

If you have a balance on your account and do not pay off the full balance each month, that is when interest accrues.

I asked the same question as you a few weeks ago!

I do find occasionally that if I buy something just 1 day before the statement is due, the statement is delayed by 1-2 days and the purchase is included on that statement.