We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Interest on Credit Card

lindabea
lindabea Posts: 1,486 Forumite
Part of the Furniture 1,000 Posts Name Dropper
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

Comments

  • GrumpyDil
    GrumpyDil Posts: 1,791 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper Combo Breaker
    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. 
  • Brie
    Brie Posts: 12,103 Ambassador
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    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.

    "Never retract, never explain, never apologise; get things done and let them howl.”  Nellie McClung
Meet your Ambassadors

Categories

  • All Categories
  • 346.2K Banking & Borrowing
  • 251.2K Reduce Debt & Boost Income
  • 451.1K Spending & Discounts
  • 238.3K Work, Benefits & Business
  • 613.4K Mortgages, Homes & Bills
  • 174.5K Life & Family
  • 251.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.