When is interest charged on a credit card purchase?

Jubudz

Hi.  My credit card statement dates are always on the 23rd of the month with any payments due by the 1st of the next month.  If a purchase was made on the 24th, this would appear on the next statement & payable by the following 1st before interest is added?  In other words my credit card month is from the 23rd to the 23rd & not a calendar month?

Any thoughts?  Thank you.

[Deleted User]

You have roughly a month between statements. It will vary according to production. 

Interest is charged from date of purchase, but waived if paying off in full.

[Deleted User]

The principle is that you can get up to 56 days interest free on cards - spending that was done on the day the statement is generated (after it is generated) would not appear until the next statement and not be due until the payment date. That said, the time period between yours is quite short though - mine is issued say 19th January and not due until 14th Feb

cx6

Yes, your credit card statement period appears to be from the 23rd to the 23rd although this can vary slightly because of weekends, bank holidays etc.

@Deleted_User has it absolutely correct about interest.

In your case, you must pay the balance shown on your 23rd statement IN FULL by the payment date (1st) to get the interest waived.

eskbanker

Jubudz said:

My credit card statement dates are always on the 23rd of the month with any payments due by the 1st of the next month.

As pointed out by another poster, this is a very short payment window, less than a week this month!  Most cards will have several weeks between statement and payment due dates - which card do you have?