Egg 0% ends date 1-8-2005, interest charged from when?

kinesin_2

I'm currenlty stoozing my Egg balance after opening and transferring out within hours of activation.
My 6th monthly payment is not due till the 23rd August but my statement shows that BT is free until 1st, does mean I'm going to get hit with 23 days interest, or will be interest free until the issue date of my next statement??

grumbler

kinesin wrote:

My 6th monthly payment is not due till the 23rd August but my statement shows that BT is free until 1st, does mean I'm going to get hit with 23 days interest...??

YES, unless you pay balance in full before the 1st Aug.

YorkshireBoy

Your 0% ends on 1/8/05 so you must pay off the balance before this date.

This is the classic way to catch rate tarts and stoozers, as highlighted in Martin's many articles on this site.

Many people have been caught out by the fact that their 'introductory period end date' does not coincide with their statement/payment due dates.

Just a thought - is the interest charged at the higher rate (14.9%?) from the date the transaction took place, or just from the 1st August?

My own Egg introductory rate runs out on 1st October and the balance WILL be paid before this date (and before the DD is automatically triggered/collected).

kinesin_2

Thanks for heads up.. My gut feeling was telling me the same.. (never trust a bank hey?).

Hopefully I should be able to BT for free. Just been offered a Halifax one card with same limit as my current Halifax plat that I phoned to cancel - it might have been effecting my stoozing limits - Another 9months 0%

grumbler

kinesin wrote:

...my statement shows that BT is free until 1st...

kinesin wrote:

... (never trust a bank hey?)...