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    I was wondering if I could get a bit of help as this is really confusing me.

    I have a few credit cards, and have had them for a while. I've been managing them well so it's all good so far.

    However, when I opened my Barclaycard, and as I constantly see advertised, credit card companies offer an interest-free period.

    The conditions of this interest free period are that you pay off your balance in full and on time every month.
    But if you pay off your balance in full and on time every month, you don't INCUR any interest or charges ANYWAY.

    So I think I'm really missing something? The only possible thing I can think of is if they don't generate your statement for the duration of the interest free period, but I can't remember if they did this with my Barclaycard.
    Could anyone clarify this?

    Many thanks
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    (Original post by sebbytotherescue)
    I was wondering if I could get a bit of help as this is really confusing me.

    I have a few credit cards, and have had them for a while. I've been managing them well so it's all good so far.

    However, when I opened my Barclaycard, and as I constantly see advertised, credit card companies offer an interest-free period.

    The conditions of this interest free period are that you pay off your balance in full and on time every month.
    But if you pay off your balance in full and on time every month, you don't INCUR any interest or charges ANYWAY.

    So I think I'm really missing something? The only possible thing I can think of is if they don't generate your statement for the duration of the interest free period, but I can't remember if they did this with my Barclaycard.
    Could anyone clarify this?

    Many thanks
    Yeah I think you're getting confused a wee bit here

    If you spend say £1000 on a credit card, and then pay it off in full at the end of the same month, you'll normally not be charged any interest. If you don't pay it off in full, and just pay the minimum payment, then you will be charged interest.

    The interest free offers you see advertised for x months allow you to spend that £1000, not pay the balance off in full at the end of the month and still not be charged any interest.
 
 
 
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