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Virgin Atlantic MBNA Amex card charges typical APR from day one. What does this mean?
Moneygoes2money
Posts: 95 Forumite
in Credit cards
Q&A on their website reads:
On purchases and cash transactions made with your card, you’ll be charged the typical APR from day one. APR stands for Annual Percentage Rate, basically the amount of interest you’ll be charged on your borrowing over a year.
What does this mean?
If I pay the card in full every month, I assume I will not be charged any interest. Am I correct in my assumption?
On purchases and cash transactions made with your card, you’ll be charged the typical APR from day one. APR stands for Annual Percentage Rate, basically the amount of interest you’ll be charged on your borrowing over a year.
What does this mean?
If I pay the card in full every month, I assume I will not be charged any interest. Am I correct in my assumption?
Mortgage start date: 21 July 2006
Original term: 25 years
Agreed redemption date: July 2031
Original advance: £155,220
[strike]Balance oustanding on 30.09.2007: £150,387.96[/strike]
Balance outstanding on 31.01.2008: £147,818.12
Amount repaid since mortgage start date: £7,401.88
Target: to reduce mortgage to £123,000 by 01.04.2010
Current monthly payment: £963.80 + £500.00 overpayment = £1,463.80
Revised agreed redemption date: January 2031
Original term: 25 years
Agreed redemption date: July 2031
Original advance: £155,220
[strike]Balance oustanding on 30.09.2007: £150,387.96[/strike]
Balance outstanding on 31.01.2008: £147,818.12
Amount repaid since mortgage start date: £7,401.88
Target: to reduce mortgage to £123,000 by 01.04.2010
Current monthly payment: £963.80 + £500.00 overpayment = £1,463.80
Revised agreed redemption date: January 2031
0
Comments
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Yes, whatever is on your first statement, if you pay it off in full by due date it will be interest free, same goes for subsequent months0
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