Double checking my assumptions on use cards interest free

seatbeltnoob

edit: made a mistake where I said March instead of February in my hypotentical example. Just a mental blip. Revised below

hello I already have an 0% purchases card for longer term repaid purchasses like car insurance and other high ticket items.

I am asking about a reward points card here where I am just trying to stay on top and ensure i never pay any interest, it's an amex.

Assumed dates. 31st statement is printed, 25th is balance due

If I make a big purchase on 1st January, wheere I had £0 balance prior. which i am unable to pay off the same month. [Assume I made a minimum payment on January 24th that didn't clear the balance]. Do I need to pay the card off in full by 25th February or 30th February to not get any interest?

Also second question. I have paid the card off on 25th February . So as of 26th February the balance is £0. If I make additional purchases on 27,28,29th march are these interest free or get interest? Do these purchases nullify the "interest free" period. Does it make a difference if the balance from 27-28-29 February are paid off or not?

eskbanker

seatbeltnoob said:

Assumed dates. 31st statement is printed, 25th is balance due

If I make a big purchase on 1st January, wheere I had £0 balance prior. which i cannot pay off the same month. [Assume I made a minimum payment on March 24 that didn't clear the balance]. Do I need to pay the card off in full by 25th March or 30th March to not get any interest?

If you make a purchase in January but don't repay it until March then you'll incur interest by virtue of interest arising in February?

Assuming you've messed up the dates, you'd need to repay in full by the 25th of whichever month if that's the payment due date, any later and you'll be charged interest.

seatbeltnoob said:

Also second question. I have paid the card off on 25th March. So as of 26th March the balance is £0. If I make additional purchases on 27,28,29th march are these interest free or get interest? Do these purchases nullify the "interest free" period. Does it make a difference if the balance from 27-28-29 March are paid off or not?

If you repay in full on or by the payment due date, then any purchases made after the previous statement date, i.e. from March 1st, will only incur interest if you fail to repay the March 31st statement in full by April 25th.