Credit Card Interest Question - Origin Vaquis Card

T-G-C

Hi there,
I've received my VISA for the Origin Vanquis credit card. Until now I thought I was sure that there were NO interest charges, provided the balance was paid in full and on time - which I intend to do.

On the welcome letter, they've mentioned a monthly interest rate on purchases of 3.990% and are unsure if they charge me interest from the day of the transaction onward regardless of whether the payment is made in full and on time.

For those that are good at looking into T&C's for credit cards etc. here are some document links to check:

origincreditcard.co.uk/site/summary-box

Pre-Contract information etc. is on this page:

origincreditcard.co.uk/application

It does state there is an interest-free period on purchases for up-to 56 days, but only when you've " where you have paid off two or more
consecutive current statement balances in full and on time."

Does the above condition mean that, for the first two months, I will be charged interest from the moment of purchase even when paying the balance in full?

If someone with experience could please look into it and provide some clarification for this specific credit card, as others vary by provider, that would be fantastic.

Thanks in advance!

Ebe_Scrooge

If you pay off the balance in full, after the statement arrives but before the "payment due" date, then you'll pay no interest. If you don't pay in full then interest is calculated as per the advertised rate. This is standard across all credit cards.

The "paying 2 consecutive statements" thing is to do with trailing interest. But the bottom line is, pay each statement in full, on time, and there's no interest payable.