How many days interest free on new purchases?

[Deleted User]

Nationwide Select Credit card: Am I correct in thinking there is a certain number of days after a purchase you get before interest kicks in?

E.g. 1st of June, buy a TV.
15th June, pay it off completely.

I think this would have £0.00 to pay in interest but can't see anything in the terms and conditions.

Any help?

YorkshireBoy

sirgib wrote: »

Any help?

There you go...

http://www.nationwide.co.uk/creditcard/select_credit_card_flexclusives_offer/rates-charges.htm

Buy it the day after statement date and get 56 days. Buy it the day before statement date and get circa 25 days. That's why they say, in the above linked summary box, "maximum 56 days" (subject to you paying off the previous statement in full of course).

[Deleted User]

So it's basically 25 days from statement date that has the transaction?

Gromitt

YorkshireBoy wrote: »

Buy it the day after statement date and get 56 days.
Buy it the day after statement date and get circa 25 days.

What...

You mean AFTER and BEFORE ?

YorkshireBoy

sirgib wrote: »

So it's basically 30 days from statement date that has the transaction?

Er no, it's "circa 25 days" as I said above (56 - 31 = 25).

Gromitt

sirgib wrote: »

So it's basically 30 days from statement date that has the transaction?

They'll typically give you 20 days to pay the statement. The last date will be printed on your statement. Clear the balance in full and pay no interest. Fail to clear the balance and get charged interest from the date of purchase. Don't forget to allow days for the payment to hit your account.

So, upto 56 days, depending on when you purchase it.

YorkshireBoy

Gromitt wrote: »

What...

You mean AFTER and BEFORE ?

Post already edited.

[Deleted User]

Gromitt wrote: »

They'll typically give you 20 days to pay the statement. The last date will be printed on your statement. Clear the balance in full and pay no interest. Fail to clear the balance and get charged interest from the date of purchase.

So, upto 56 days, depending on when you purchase it.

Great, that makes sense thanks