Latest payment date to avoid interest?
edited 2 September 2020 at 3:14PM in Stoozing: free cash from credit cards
3 replies 131 views
Hi all. I am hoping someone can help clarify what is the VERY LAST date one can wait to settle a credit card with an introductory 0% on purchases without incurring any interest?
I have a Tesco Bank credit card whose 0% period expires on the date the November statement (17th). I have been putting the money to pay this off in a regular saver account. However, I've just realised the maturity date of the RS is a week AFTER the CC 0% introductory rate ends (24th). I would ideally like to not withdraw the RS balance prematurely, as I would loose the interest I have accumulated on it.
I understand there is a 'grace' period in between the statement date and the payment due date (about 3 weeks) during which you don't get charged interest on the statement balance. But I'm not sure if this applies in the same way at the end of an introductory 0% period.
Am I safe waiting for the RS to mature before paying the CC balance? (with the maturity date falling in this grace period).
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