Paid card one day late - how long will I have to wait before it's interest free again?

boliston

I managed to pay my credit card a day late and got hit with a £12 fee which they have now refunded (after me calling them) - The thing I'm not so sure is how much interest I'm going to be hit with - I'm pretty sure I'm looking at about £10 when I get my statement in a couple of days time, but I'm guessing that will not be the end of it and there will be more to pay on the next statement.    There is about £600 balance on my card after paying last month's statement in full (a day late), so that will be due for payment in about a month.   If I start buying more things on the card now will those purchases be 'interest free' as long as I pay them on the due date or do I need to clear the card balance in full before I can safely start using it again for 'interest free' purchases?    The card gives me 0.5% cashback so I'm not sure of the effect on cashback if the payment is a day late.  I know we are only talking small losses here but it's a bit annoying just forgetting and then not being sure how it will pan out charge wise.

[Deleted User]

Once you clear two months statements in full, interest will be waived if you clear in full.

penners324

Why do you keep paying late? Get a direct debit set up to clear the balance in full.

Grumpy_chap

I have the exact same issue as the OP.  Think it means the whole year's cashback is forfeited.  Rules can obviously vary between different cards.

SuperAllyB

Grumpy_chap said:

I have the exact same issue as the OP.  Think it means the whole year's cashback is forfeited.  Rules can obviously vary between different cards.

What card do you have? I've never heard of a rule like this.

Yahoo_Mail

SuperAllyB said:

Grumpy_chap said:

I have the exact same issue as the OP.  Think it means the whole year's cashback is forfeited.  Rules can obviously vary between different cards.

What card do you have? I've never heard of a rule like this.

American Express Platinum Cashback credit cards do it, but you need to miss two consecutive monthly payments.  Not sure if that means pay late twice in a row or not pay at all for two months.

Grumpy_chap

SuperAllyB said:

Grumpy_chap said:

I have the exact same issue as the OP.  Think it means the whole year's cashback is forfeited.  Rules can obviously vary between different cards.

What card do you have? I've never heard of a rule like this.

Aqua Rewards

MallyGirl

Even more reason to set up a direct debit then.
to the OP - there will be a tiny amount of trailing interest in the second month and then you are done. Any new transactions will be interest free if paid in full on time. Get that DD set up so it doesn't happen again