Interest Free Period Ends

Repromancer

Hey all

This may sound silly to a lot of you, but i really want to find out:

I have a Tesco Credit card, and the interest free period on purchase is ending in 12 November.

My statements run from 12th to 11th of the month. I still have around £1k to clear off.
The payments are taken out on the 1st of the month (so in that case it will be 1st December).

Will i be charged interest as soon as the "interest-free period" runs out, or have I got till the 1st December to pay off the statement in full?

Thanks!

[Deleted User]

You'll be charged interest from the day the promo runs out.

Repromancer

But dont you get time from the statement date to the the payment due date to pay off your balance in full ( or minimum payment if you prefer)?

[Deleted User]

Only if you're paid the previous statement off in full, which you haven't as you've been carrying a balance.

bengal-stripe

Repromancer wrote: »

I have a Tesco Credit card, and the interest free period on purchase is ending in 12 November.

You still have another month time to pay the balance in full. As of November 12th, your interest on the outstanding balance will be calculated daily and charged monthly.

Only if you have paid the previous and the current statement in full will the interest be waived.

Foxy-Stoat_3

I wouldn't of though 18 days of interest on £1000 will be neither here or there in the scheme of things.