Late posting by retailer - affects max 56-day interest free period?

taless

Hi guys,

Was pondering about this. My usual statement for my LTSB Airmiels Duo credit card is around the 20th each month. I made a shopping at Tesco on 16 Nov, but it only get posted to my account on 21 Nov, after my statement has been issued.

So looking at it, I will only be paying for that shopping around 15 Jan 2008. As I always pay in full by direct debit, the money will only reach the card on 15 Jan 2008.

Performing a calculation, that is going to be more than 56-days interest free period (assume they use Day 1 as Transaction Date and not Posting Date). Will there be anything that I have to be concerned about - and do I need to pre-empt by doing anything? Or do I have to perform a manual payment before that just to ensure no problems arise? Am I worrying too much here?

Thanks!

C32AMG

taless wrote: »

Hi guys,

Was pondering about this. My usual statement for my LTSB Airmiels Duo credit card is around the 20th each month. I made a shopping at Tesco on 16 Nov, but it only get posted to my account on 21 Nov, after my statement has been issued.

So looking at it, I will only be paying for that shopping around 15 Jan 2008. As I always pay in full by direct debit, the money will only reach the card on 15 Jan 2008.

Performing a calculation, that is going to be more than 56-days interest free period (assume they use Day 1 as Transaction Date and not Posting Date). Will there be anything that I have to be concerned about - and do I need to pre-empt by doing anything? Or do I have to perform a manual payment before that just to ensure no problems arise? Am I worrying too much here?

Thanks!

You are worrying too much. It will just be on your next monthly statement.

It is 56 days (up to, depends when it is posted to your account) interest-free from the time the payment is posted, not when you actually make the payment. Some transactions appear next day, some take a few days to arrive depending on the retailer.