Interest ing Question about payment !

sadia85

I have a question regarding the interest charges on the credit card statement.

Suppose my bill was generated on 5th Feb for £100 which is due by 25th Feb but my total balance on 11th Feb is £140 .

If i pay the the full bill payment instead of full balance to date, would they be charging me any interest for the next bill statement.


Sadi.

Tixy

If you pay the statement balance in full each month before the due date then you pay no interest.

thenudeone

Tixy wrote: »

If you pay the statement balance in full each month before the due date then you pay no interest.

... as long as you also paid the last bill in full and on time.

Typhoon2000

Yes if you have been paying you bills in full, then there is no interest on the balance. But if you havent been paint in full then you lose the upto 56 day interest free period and interest starts racking up from the date of any new purchase.