Pulse (ex Amazon) credit card, updated conditions

Martin_the_Unjust

The new conditions state

‘Interest will now be charged from the date a transaction is made. If you only use your account for purchases and repay your balance in full each month, this change won’t affect you’

I’m not entirely sure I understand what they are saying as the second bit seems to directly contradict the first bit.

What am I missing?

PS I do pay it off in full every month.

born_again

Pay in full no interest.

Do not pay in full, interest is charged from the date the transaction is made.
Amazed that this has not been the case before, as it is industry standard to charge interest from the date transaction is made if you do not pay statement balance in full.

CliveOfIndia

I don't know what the T&Cs of this card were previously, but what you've written there is how all credit card work.  You make a purchase, interest is accrued on a daily basis until you pay it off.  But if you repay the full balance every month, then the accrued interest is waived.

The only exception is if you make a cash withdrawal on the card (or make a transaction that is classed as cash - buying foreign currency is a common one).  In that case, pretty much all cards will charge interest (as well as a fee) even if you do pay off the balance in full.

But if you just use it for standard purchases and always repay in full every month, there's nothing to worry about.

Martin_the_Unjust

Thank you both for your explanations