Credit Cards

A question about : Credit Cards

I currently have a Capital One credit card, which is outside of the introductory rate.

Due to credit rating, it's probably unlikely that I'll get another one just yet, so I'm trying to use this one (responsibly I might add ) to help builid my rating up. I've not missed any payments (on anything) for well over a year now.

My question is, now that the introductory rate is over, I have to pay interest on what I use it for, however, if my bill is due on 28th of the month, and I pay the balance in full on the 25th, would I be charged interest, on the 28th, for the things I purchased during the month, or is it just for thing that are still on the card at the 28th?

Any help is gratefully received.

Steve

Best answers:

• You only have to pay interest if you do not pay the card off in full each month.
  After introductory periods you will still get "up to 56 days" or such interest free - the up to part of it comes from the fact its actually you have 21 days or so after the statement is produced on which the purchase shows to clear it. So if your last statement was produced on the 1st and you make a purchase on the 2nd you get the full 56 days. If however you a purchase on the 28th and the statement is made up the next day you only get 22 days on that item.
  If one month you dont pay it off in full then new purchases after that continue to be interest free but the outstanding balance is accruing interest daily so even if you pay the next statement off in full you will still have the interest charged between the date of the statement and the date your payment clears to be added to the bill next month.
  So be good and clear it every month and then the interest rate is broadly irrelevant as you never pay any
• Brilliant, thanks
  Steve