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Pay off interest free credit
steve59_2
Posts: 5 Forumite
in Credit cards
Hi I have spent on my card, its interest free until October next year, I am currently saving a fair bit at the moment for early retirement hopefully, should I pay it of early or keep saving until its time to pay off the card a month before it changes
thanks
thanks
0
Comments
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Hi I have spent on my card, its interest free until October next year, I am currently saving a fair bit at the moment for early retirement hopefully, should I pay it of early or keep saving until its time to pay off the card a month before it changes
thanks
If the card balance is at 0% then it makes no difference to the balance due whether you pay it off now or just before the deadline.
Can you put aside the amount due in a separate savings account? Or are your present savings getting the best interest rate you can get in the current market? In which case there is no point splitting.0 -
If "interest free" includes spending, then it doesn't make any sense to pay it off early.0
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Yes its 0 per cent, and I wont be spending on it again,0
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