Opening New Credit Card Account

Robinmsa

Hi there,

I'm planning on opening a Tesco Credit Card Account, transferring balances over from myself/girlfriend then paying off over a period of time.

What I would like to know is how do I work out when the repayment date shall be as I believe it has a 51 day interest free period.

Basically I should like my repayments to leave after payday which is around the 18th of the month?

Gromitt

The repayment date and amount to pay will be on your statement.

Ask for a date after the 18th when you setup your DD, if you want to go down that route.

Th1984

2 points,

1) it's only interest free for 51 days if you pay the statement balance in full (barring any offers I,e, 10 months interest free etc)

2) be careful xferring girlfriends debt onto a card in your name, should it all go sour the card holder is solely liable for the debt, regardless of how it was incurred

Be lucky

Robinmsa

I'm not to bothered about girlfriends credit card as it is a minimal amount.

zerog

Robinmsa wrote: »

I'm not to bothered about girlfriends credit card as it is a minimal amount.

If it is a minimal amount why not just pay it off directly instead of incurring a BT fee?

sfax

51 days is likely to be the maximum meaning a minimum of 20 days. Just transfer the whole statement balance each month and you won't pay any interest

chattychappy

Robinmsa wrote: »

What I would like to know is how do I work out when the repayment date shall be as I believe it has a 51 day interest free period.

If you have a 0% balance transfer deal, then you won't pay interest on the balance transferred until expiry of whatever the period offered (12 months, 18months etc.)

If you put purchases onto the card, you WILL pay interest on those UNLESS you pay of the WHOLE balance by the due date. But to take advantage of the balance transfer offer, you WON'T WANT to pay off the WHOLE balance, will you?

So forget the 51 day thing. Transfer the balance(s) and pay down by the expiry of the BT deal. Put purchases onto a different card (perhaps your existing card) and pay off in full each month. Then you'll get up to 51 days (or whatever it is) free credit on the purchases.