Interest Free credit cards.

9 replies
Found 4th Jan
Hi.

So how do these work? Say I got one and it was interest free for 30 months.

Do I buy something and pay nil for them 30 months if I want or do I still have to make a minimum payment per month to keep that rate of 0 percent?

Currently been accepted for one as I plan to spread the payment of a TV was wondering if I could save up per month and pay of in full at the end or if I'll be paying towards leading up?

Cheers.

9 Comments

You still have to make a minimum payment every month.

As per the terms and conditions you would have accepted when you signed the application!

depends where its from

Make sure you do not miss any payments or you will lose the offer and start paying interest.
Edited by: "moody1960" 4th Jan

Original Poster

moody1960

Make sure you do not miss any payments or you will lose the offer and … Make sure you do not miss any payments or you will lose the offer and start paying interest.



​I have read the terms I was just wanting to clarify. I have also sent off a dd mandate so that should cover the minimum payments I believe it is 2.25 percent of the balance.

Cheers all.

Matty8787

​I have read the terms I was just wanting to clarify. I have also sent o … ​I have read the terms I was just wanting to clarify. I have also sent off a dd mandate so that should cover the minimum payments I believe it is 2.25 percent of the balance. Cheers all.


You always have to make the minimum payment. If that is only 2.25% be aware that you will have nowhere near paid off the balance by the end of the interest free period. Make sure you have the funds to pay off the rest of the balance or you will have a hefty whack of interest to pay

Original Poster

psychobitchfromhell

You always have to make the minimum payment. If that is only 2.25% be … You always have to make the minimum payment. If that is only 2.25% be aware that you will have nowhere near paid off the balance by the end of the interest free period. Make sure you have the funds to pay off the rest of the balance or you will have a hefty whack of interest to pay



​Yeah I get that, I will be putting close to 100 a month on to it as opposed to the 27 or whatever it equates to I am just wanting to gauge how much it is and if I would need to make that.

Thanks for the help.

Don't do it Matty...lol

Original Poster

GunnerGraham

Don't do it Matty...lol



I can afford to matey I ain't going in blind lol, would just rather spread the cost than lump sum it.
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