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Need credit card explained
chris1804
Posts: 115 Forumite
in Credit cards
I've now been debt free for 8 months now , My credit rating is poor due to a default on my previous tesco loan and I wanted to try and get it back on track, so I applied for a tesco credit card and I've been approved , the limit is only £250 but that's fine for me because I'll only be using it for diesel for the car, it's 39.9%apr my question is what does all this APR mean? Say if I pay for £60 of diesel with this card and pay the card balance off in full within the time due is that all I will have to pay ? I new to credit card world
0
Comments
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Yes, if you pay your balance off in full by every statement's due date then you won't have to pay any interest so the APR doesn't come into play.0
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It is best to set up a direct debit to pay the whole balance off each month so that you don't forget.0
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