New credit card and new to credit cards help please

Josquin

I have just received my first cc and have made 1 small purchase with it (last Saturday).

I intend to clear all repayments each month.

I would like to make a further purchase in the next day or so.

My question - a very newbee qu- is, will both purchases appear on the first statement??

Thank you

CliveOfIndia

It depends entirely on your statement cycle.  Any purchases made before the statement is produced will appear on that statement.  On the face of it, I'd say "yes" in answer to your question, if you only opened the account a couple of weeks ago.

Using simplified dates to illustrate.......

You opened the account on 1st December.  Your statement is produced on 31st December.  Any transaction made between 1st and 30th December will appear on the 31st December statement, and will be due for payment in January.  The "Payment Due" date varies between lenders, but is typically about 3 weeks or so after the statement is produced.  As long as you pay the full statement balance before the Payment Due date, you won't be charged any interest.

Any transactions made between December 31st and January 30th will be included in January's statement, and will be be due for payment by roughly 21st February.

So in general, statements are produced monthly, and payment is due roughly 3 weeks or so after the statement is produced (the actual date will be clearly printed on your statement).  Ideally set up a Direct Debit to take the full statement balance.

Your actual dates/billing cycle will be based upon when you first opened the account, and there may be a day or so variation from one month to another due to 30/31 day months, but that's broadly how it works.

Josquin

 CliveOfIndia 

Thank you for your detailed reply. It was very helpful and clear.

km1500

don't forget you have to.pay it ALL (the statement balance) to avoid interest - even a penny less and you will be charged interest on the lot.

Josquin

' don't forget you have to.pay it ALL (the statement balance) to avoid interest - even a penny less and you will be charged interest on the lot. '

Yes absolutely.

molerat

And don't forget your credit limit is the total outstanding at any one time, not the limit you can spend each month.  If you have a £1K limit and spend £500 in the first month which appears on the statement then you only have another £500 available to spend until you have paid off the balance on that first statement.   Very important to remember if you have one of the low limit starter cards.

Josquin

Good point.

I intend to pay off the balance off each month. That will avoid any interest added.

NoodleDoodleMan

Your monthly statement will indicate what balance is due to be settled before the payment due date - that is amount you need to pay to avoid interest.

Remember - your ongoing total running balance will be more, except in the unlikely event you've not made any transactions subsequent to the balance due statement being published.