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Question on BT end timing

th081
th081 Posts: 181 Forumite
Part of the Furniture 100 Posts Name Dropper Combo Breaker
in Credit cards
I have a balance transfer coming to a end on the 20th Dec. My statement is created on the 17th, does that mean that if I pay the amount o/s by the 17th Dec statement due date in early Jan, I will pay no interest even though the BT finished on the 20th Dec?

Comments

  • molerat
    molerat Posts: 36,409 Forumite
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    No, interest will be charged from 20th. 

    Never associate with idiots on their own level, because, being an intelligent man, you'll try to deal with them on their level - and on their level they'll beat you every time.

    Being hated by idiots is the price you pay for not being one of them.

    Jean Cocteau 1889-1963

  • Jami74
    Jami74 Posts: 1,345 Forumite
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    Make sure it is paid and cleared by 20th Dec to avoid interest.
    Debt Free: 01/01/2020
    Mortgage: 11/09/2024
  • fergie_
    fergie_ Posts: 290 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    It varies between lenders. Best to check your statements, the T&Cs or ask them. Virgin for example allow up to the next statement date after the period has ended.
  • th081
    th081 Posts: 181 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Ok thanks all. Will clear by 20th just in case. 
  • Nasqueron
    Nasqueron Posts: 11,760 Forumite
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    edited 1 November 2024 at 3:09PM
    The statement will normally tell you when the offer ends after which point you'd be charged regardless of statement due date. The statement is simply the normal process they have to follow - check terms but I always work on the basis the 0% ends the last day of the offer as they are sold as "0% on balance transfers until (say) 1/11/26" and usually indicate you will be charged interest once that ends

    Sam Vimes' Boots Theory of Socioeconomic Unfairness: 

    People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.

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