Interest on Credit Card Purchases

[badgambler]

Is everyone now chraging interest on purchases immediately, if you dont clear the outstanding balance in full.

I got new T&C's from UB stating this so I went to AIB for a Platinum Card today only to read the same in the Terms.

Is anyone still giving you up to 56 days free?

 

[Jockey]

I have two credit cards. One with Bank of Scotland and the other with Tesco. Both of them come with 6 months interest free on purchases and you can also transfer balances. Personally i think the Bank of Scotland one is best especially when you have to deal with them over the phone and you can pay the bill with internet banking...

 

[CCOVICH]

I have two credit cards. One with Bank of Scotland and the other with Tesco. Both of them come with 6 months interest free on purchases and you can also transfer balances. Personally i think the Bank of Scotland one is best especially when you have to deal with them over the phone and you can pay the bill with internet banking...

That doesn't address the issue of how interest is actually calculated-you are confusing the balance transfer offer with the interest free period on purchases on any credit card.

Is everyone now chraging interest on purchases immediately, if you dont clear the outstanding balance in full.

As far as I know, yes.

I think that the 56 day period applies to purchases made on day 1 of the billing period, 55 days from day 2 etc. so it is a little misleading.

 

[Sarn]

Is everyone now chraging interest on purchases immediately, if you dont clear the outstanding balance in full.

Hasn't this always been the case? I know those were the terms on my BOI card years ago.

Is anyone still giving you up to 56 days free?

As CCOVICH says, the 56 days is from the date of your last statement, so technically you can get 56 days if you buy something just as your statement is sent off.