56 day interest free

edited 30 November -1 at 1:00AM in Credit Cards
2 replies 631 views
Allan87Allan87 Forumite
464 Posts
Part of the Furniture 100 Posts Name Dropper Combo Breaker
edited 30 November -1 at 1:00AM in Credit Cards
My card (capital one classic) doesn't have the 0% for x months perk as I'm a student and am trying to build a credit rating/history. So I figured I can just use it for general expenses and pay it off each month and not get charged interest, yet reading the T&Cs it mentions a maximum of 56 days interest free. Does this mean providing I pay the minimum after each statement, I can hold off paying the full balance until say day 55 before incuring interest?


  • Ben1982Ben1982 Forumite
    731 Posts
    You'll normally find the 56 day interest free, is from the previous statement date until the current statement payment is due.

    I.e. my barclaycard statement comes around on the 3rd or so of each month, but it doesn't need to be paid until around the 25th.

    If I make a transaction on the 4th, it means it won't need to be paid until the 25th of the following month, hence the 50+ days interest free.
  • gt94sss2gt94sss2 Forumite
    4.8K Posts
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    No, it means the maximum period between using the card and having to pay can be 56 days.

    For example, the period if you used your card, the day after your statement is produced to the 'payment due by' date on the following months statement.

    If you don't pay the full amount stated by the 'payment due by' you will be charged interest..

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