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Interest on Credit Card
lindabea
Posts: 1,486 Forumite
in Credit cards
My 0% balance transfer is due to expire on 12 Jan 25. .My statement date is also the 12th of each month with a payment date by the 6th of the following month. Now, when they produce my statement on 12th Jan, it will state a payment due date by 6th Feb, and I intend to payoff any balance to avoid interest charges. So I'd like to know if any interest would be charged from the 12th Jan to 6th Feb if I don't clear the balance by 12th Jan and make the final payment on the due date.
Before doing something... do nothing
0
Comments
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If the interest free period ends on 12th Jan I would expect interest to be charged from that date.
So would make sure any payment t was cleared by 12th Jan.0 -
I would ensure it was paid in full maybe a week before the 12th just to ensure there's no delays due to banking systems etc. I know there shouldn't be but I hate it when I've missed by a few hours and then have trailing interest to tidy up for the next 2 months.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe and Old Style Money Saving boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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