Sainsbury CC 0% purchase small print help

chicken_jalfrezi

Hi,
Hoping someone can explain the following, I have applied for a Sainsbury Credit Card (which has been successful) following the advice from the main Money Saving site to pay for a holiday using a credit card instead of getting a loan to get 29 months 0% Interest Free credit.
I intend to only use the card for this payment and pay off in full before the 29 months are up, however a line in the Summary information from Sainsbury has confused me and hope someone can advise, it reads:

Interest Free Period - Maximum 56 days for purchases if you pay your balance shown on your previous and current statement on time.

So if I purchase my holiday for £3000 do I have to pay in full within 56 days otherwise I will be charged the Interest rate?

The advice on this from the main site suggests not but this line from the actual Credit agreement seems to contradict this.

Many thanks for anyone's advice.
Gary.

gingercordial

If you applied for a 0% on purchases card, the 0% overrides the part you are quoting for the promotional period of 29 months. So don't worry.

After those 29 months it reverts to the normal T&Cs where you only get an "interest free" period in that you have from the date you buy something to the date the bill is due to be paid before they charge you interest on that item, and only then if you've paid the previous bill off in full.

chicken_jalfrezi

Many thanks for your quick response, much appreciated.

[Deleted User]

The easiest way to think about it is that you ALWAYS get charged interest if you don't clear in full each month.

It's just that for a period of time, the interest you'll pay is calculated on 0%.

It's only the rate that changes - interest will always be applied by the credit cards system.

bigadaj

chicken_jalfrezi wrote: »

Many thanks for your quick response, much appreciated.

And you must make the minimum payment every month or risk having the 0% deal revoked.