No interest if paid off in full??

RedVulpine

I am looking for credit cards that do as they used to by not charging if they are paid off within the same month. I'd even consider one with a small annual fee.

I cannot see any like that anymore. There are plenty of "Zero interest" for an offer period when you can possibly move, but I am not interested in that.

The main reason I have a credit card is the additional consumer protection on purchases and keeping a good credit rating, otherwise I'd get buy on a debit card. Theremight be times when I needed to delay a payment an take a hit, but that would be rare, so I neither want oncstant interest or the hassle of moving.

malcolmffc

All credits cards that I know of have an interest free period if the balance is paid off in full, usually between 21 and 30 days after the statement.

If you have a good credit rating and are always intending to pay in full you should consider a cashback credit card to get a little back on your purchases.

debtfreeby30:S

If you pay your statement balance in full by the due date you will generally not incur any interest charges. There is a period if up to 56 days interest free in the credit card cycle. Set up a direct debit for the "Full Amount" and you shouldn't have any problems.

I believe the 0% purchase offers you mention mean you will not incur charges for the special offer period whilst only paying the minimum payment and not clearing the full balance.

I hope that helps??

The_Boss

RedVulpine wrote: »

I am looking for credit cards that do as they used to by not charging if they are paid off within the same month. I'd even consider one with a small annual fee.

I cannot see any like that anymore. There are plenty of "Zero interest" for an offer period when you can possibly move, but I am not interested in that.

The main reason I have a credit card is the additional consumer protection on purchases and keeping a good credit rating, otherwise I'd get buy on a debit card. Theremight be times when I needed to delay a payment an take a hit, but that would be rare, so I neither want oncstant interest or the hassle of moving.

As has been stated, all credit cards have an interest free period if paid in full, so they still 'do as they used to'

Do not withdraw cash though as that attracts interest immediately.

guesswho2000

The_Boss wrote: »

As has been stated, all credit cards have an interest free period if paid in full...

Not true, there are a very few which don't offer this, Lloyds TSB Advance being one still on the market. The summary box here states "There is no interest-free period on any Transactions."

The vast majority, however, do, and the summary box for each card will tell you about any interest free period offered.

As for cash, an interest free period on that is a very rare beast, only offered by the Sainsbury's Gold card (on all cash advances) and Barclaycard (on non sterling cash withdrawals only).

RedVulpine

Thank you all, I have obviously been reading the comparrisn site information incorrectly!

InsideInsurance

RedVulpine wrote: »

Thank you all, I have obviously been reading the comparrisn site information incorrectly!

The aggregators only ever call out the headline information and rarely the detail.

When people are searching for interest free they are typically looking at introductory offers that are measured in months rather than the X days after statement date that almost all offer

RedVulpine

InsideInsurance wrote: »

The aggregators only ever call out the headline information and rarely the detail.

I note that there is a difference in the number of interest free days.

Is there any site that drills down to this sort of infomation?