Tesco 0% purchase rate expiring

sarcaitjam

Hi,

Very many apologies if this has already been covered somewhere in here - I've searched and couldn't find exactly the answer I'm after.

I have a Tesco Credit Card that I hadn't used for a while. In August Tesco offered me 6 months interest free on purchases, up to my credit limit. Needless to say I started using the credit card again and put the money to cover the spending in an interest bearing account. I have also made the minimum required payments in the meantime.

On my October statement there was a reminder that the expiry date of the special purchase rate is 31st December 2013. Other than that there is no evidence of an expiry date on any of my statements - there is no Expiry Date listed against the offer balance in the Summary of Balances statement at the bottom of statements, for instance. Payment of my latest statement is due on or before 26th December and the statement says that if I make the minimum payment my estimated interest payment next month is £0.00. I haven't made any purchases on it since early Nov and don't intend to do so. Assuming the expiry date is, in fact, 31st Dec, if I make the minimum payment will the remaining balance start attracting interest on that date? If not, do you think I have until the pay on or before date in my next (January) statement to pay the full balance off to avoid paying any interest?

Any advice gratefully received thanks,
Sarcaitjam

YorkshireBoy

Whatever balance exists on the account after 31st December will attract interest immediately, ie from 1st Jan.


You only get the 'up to 56 days' interest free credit once you've paid two consecutive statements in full by their respective payment due dates (and you haven't done this).

sarcaitjam

Thank-you.

I'm still not entirely sure why there is no evidence of when the expiry date of the offer is (except from October), or why they have said next month's interest will be 0 if I only pay off the minimum amount this time, but my gut feeling was that the interest would start on 1st Jan, despite hoping otherwise. I better pay off in full by then, then!

C'est la vie!
Sarcaitjam