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When 0% ends

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I have a 0% rate coming to end on 1st September, when will I get charged interest, will it be at the next statement so end sept, looks like i get a statement begining of the month withna paydays of 28th of the month.
If i pay the balance before the next statement/payment due date will I not be charged any interest? So in between 0% ending and the next statement been issued? Or will interest be added right away on the 1st sept statement?

Hopefully won’t be an issue as I’ll have the money before it ends but if not I’m wondering if I’ll get any extra time to pay it.

Thanks

Comments

  • Missmarie
    Missmarie Posts: 64 Forumite
    You will get charged interest from when the offer ends until the statement is produced.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Plus some trailing interest on the next statement.
  • linzi_lou
    linzi_lou Posts: 31 Forumite
    Part of the Furniture Combo Breaker
    Thanks for the reply’s. So if my 0% ends 1st sept, and my statement comes 8th sept and the due date is 28th sept, will I have 0% interest to pay as long as paid by 28th sept? Or will I still pay interest.
    Does the interest get slapped on on the 0% end date if not paid before?
    Thanks again.
  • linzi_lou
    linzi_lou Posts: 31 Forumite
    Part of the Furniture Combo Breaker
    Missmarie wrote: »
    You will get charged interest from when the offer ends until the statement is produced.

    So if statement comes 8th sept & I pay on 10th sept I’ll be charged 2 days interest? If I pay before 8th sept there will be no interest as no new statement yet? Have I got that right? Thanks
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    linzi_lou wrote: »
    So if statement comes 8th sept & I pay on 10th sept I’ll be charged 2 days interest? If I pay before 8th sept there will be no interest as no new statement yet? Have I got that right? Thanks
    Post #2 answered your question perfectly.
  • Dobbibill
    Dobbibill Posts: 4,191 Ambassador
    Part of the Furniture 1,000 Posts Mortgage-free Glee! Name Dropper
    If your offer ends on the 1st and you still have a balance on the 2nd then it will attract interest. This is calculated daily and added to your statement when produced.
    I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

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