Interest rate help!

John71

I am wanting to pay our house insurance on a credit card (Bank of Scotland One) which is no longer in the 0% introductory rate. It is now 15.9% APR. I am wanting to use this card to pay via Quidco and get £120 cashback but want to pay it off when cashback received in 3-4 months. The card has an interest free period of 59 days, but would this be 59 days from date statement is printed or purchase date? How much interest am I likely to pay on insurance premium of £156.82?

I have got another CC but that only has interest free on Tesco purchases and I don't really want to apply for another card for a while.

YorkshireBoy

You get up to 59 days interest free on purchases. To enjoy the maximum (in practice, 56 days) interest free period, you'll have to make the purchase the day after your statement date.

At 15.9% APR, and assuming the insurance is the only transaction on the card, you'll pay around £1.95 per month in interest...but don't forget, you'll get the initial up to 59 days interest free (again, providing this is the only transaction on the card).