Simple question about credit card interest - apologies

edited 30 November -1 at 1:00AM in Credit Cards
2 replies 739 views
rubble2rubble2 Forumite
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edited 30 November -1 at 1:00AM in Credit Cards
Sorry for asking such a basic question but I normally pay off my credit card in full each month, Last month I had a lot of expense so only paid half of the total owing. Naturally I now have some interest applied to the account on this months statement.

If I now pay off the whole outstanding account by the due date this month I assume I will still attract some interest on next months statement, If I now use the card for making new purchases will the interest I pay just be that which is due on the old transactions up until I settled the account or will my new transactions now attract interest as well?

Thanks

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  • edited 30 October 2014 at 4:02PM
    grumblergrumbler Forumite
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    edited 30 October 2014 at 4:02PM
    rubble2 wrote: »
    If I now pay off the whole outstanding account by the due date this month I assume I will still attract some interest on next months statement,
    Yes, as some interest will be added for the period between the statement date and the due date.
    If I now use the card for making new purchases will the interest I pay just be that which is due on the old transactions up until I settled the account or will my new transactions now attract interest as well?
    The latter. For the interest on new purchases to get waived both the previous and the next statements balances have to be paid in full.
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  • rubble2rubble2 Forumite
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    Thanks for the info
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