Credit Card Help

[black_cat51]

i had a balance of £1500 that i paid off this month. However a few days later i made a small purchase which amounted to a small sum. if i don't pay this sum before the end of the month, will i pay interest in the whole amount?
Thanks

[grasscarp]

Once an amount has been paid it stops accruing interest.

[puternut]

The bill you received is all transactions for the month up to a certain date - normally a few days before you received it.

By paying up the full amount (£1500) you have accrued no interest on that.

The 'small' amount will go on the next months statement and provided you pay that off before the due date on your next statement you will pay no interest on that either.

[puternut]

PS The 'no interest' will apply provided the bill is paid before the due date on each bill. Always allowing a few days for the money to go between one account and another

[puternut]

No need to thank us black_cat.

Maybe you just lost interest??

[Peter Pedant]

So long as you pay the sum on your latest account statement you are all right. Very efficient to use the credit card as a charge card.

I can see a time when you know you have a grand outstanding - pay that off mid month and then add a small amount so that on statement day there is a small debit - in which case you get dinged for the whole lot....( in interest)

if you cant understand this post dont worry not many do.