From: "Tumbleweed" 
Newsgroups: uk.finance
Subject: Re: Positive Credit Reference
Date: Tue, 8 Nov 2005 17:37:31 -0000


"elziko"  wrote in message 
news:re4cf.3379$Lw5.2685@text.news.blueyonder.co.uk...
> Thanks for your reply.
>
>> I think if you pay it off immediately, then your balance for that month
>> will still be reported as zero, so I would wait until you get the bill
>
> Yeah this is what I was thinking so wanted to get a firm yes or no.
>
>> Are you worried that if you don't pay it off immediately you'll spend
>> the cash you put on one side to pay the bill?  Or are you worried
>> about being charged interest?  You may have some misconceptions
>> that should be fairly easy to address.
>
> I am merely worried about paying interest on purcahses since I would never 
> normally use my credit card and the most obvious way to overcome this is 
> pay the value into my credit card account on the day i make the purchase. 
> But if we find your thoughts above to be true then I'll have to wait for 
> the bill.
>
> Anyone know for definite?
>
> TIA

You wont pay any interest as long as you pay your credit card bill off by 
the due date. Thats how credit cards work. In general this gives you 4-6 
weeks on interest free credit. For example, buy something on 1 Sep for £100, 
get bill for £100 on Sep 20th, pay £100 bill by due date, say Oct 10. Your 
worries are needless as long as you pay it off in full in good time.

-- 
Tumbleweed

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