Paying credit card bill - interest free question

dagsky

hey all, ok this is going to sound like an extremely daft question to some but because this is only my 3rd time using my cc i'm not sure how the interest free period works!

Basically i got my bill which is say produced on 3rd April, say it was for £200 and this needs to be paid by the 25th April, either min payment or paid in full. I normally pay in full to avoid the interest. After the 3rd of april i've now spent 2k on my card, so to avoid interest do i need to pay off the full 2k by 25th april or do i need to just to pay the £200 for now and then next bill i have to pay the 2k? HSBC CC by the way. I did try to ask hsbc but sadly despite paying for my advance account i now seem to be getting put through to india call centers, this never used to be the case a few months ago & they have no idea what i am on about.....

[Deleted User]

You only need to pay the amount on your last statement.

smdabs

Depending on what the interest free period was for (some have interest free balance transfers but not purchases and some for purchases but not balance transfers etc etc).

If say the card is interest free for purchases, and that's the only thing you've used it for, then you only need to pay the minimum payment as no interest will accrue.

Just make sure that by the time you get to the end of interest free period, you have enough to pay the balance off in full. As soon as it expires, then you will have to start paying balance off in full on a monthly basis to avoid paying interest.

grumbler

smdabs wrote: »

Depending on what the interest free period was for (some have interest free balance transfers but not purchases and some for purchases but not balance transfers etc etc).

If say the card is interest free for purchases, and that's the only thing you've used it for, then you only need to pay the minimum payment as no interest will accrue.

Just make sure that by the time you get to the end of interest free period, you have enough to pay the balance off in full.

The OP said nothing about 0% on either BTs or purchases.