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Credit cards

JamesM
Grafter
Posts: 1,103
Registered: 24-06-2009

Credit cards

Can anybody recommend a good credit card, the reason I am asking is on Monday 17th I paid my car insurance with my credit card, and today 4 days later I get the statement. I would like a credit card that gives me a bit more interest free time to make the payment than the one I have got. I allways thought you get 2 months interest free with credit cards, or is that a thing of the past with these money hungry *ankers.
28 REPLIES
Moderator
Moderator
Posts: 17,254
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Registered: 11-01-2008

Re: Credit cards

it depends when your billing date is, if you buy something just before your billing date you will have less time to pay then if you bought something at the start of your billing date.
Will Moderate For Thanks
dccrepairs
Grafter
Posts: 30
Registered: 10-12-2009

Re: Credit cards

I can't say much for your credit card not knowing which one you have but my Barclaycard gives me 'upto' 60 days interest free to get the full 60 days in need to make the purchase on my statement date so the transaction appears on my next months statement, if I make a purchase a few days before my statement date it gives me 30 days plus the few days before I have to make full payment and avoid any interest charges.
JamesM
Grafter
Posts: 1,103
Registered: 24-06-2009

Re: Credit cards

I just phoned up and had a chat with a tele sales girl and that is what she said dvorak.
Sorry dccrepairs its a yorkshire bank CC, It says maximum 59 days free credit on the back of my statement. Maybe they are all the same.
nadger
Rising Star
Posts: 4,498
Thanks: 46
Registered: 13-04-2007

Re: Credit cards

As dvorak says, it depends on your billing date.
I use Tesco card and pay in full each month.
The initial interest free period enabled me to spread purchases over several months - eg new tele.
http://www.tescobank.com/personal/finance/creditcards/clubcc/index.html?referrerid=tesco20
kmilburn
Grafter
Posts: 902
Thanks: 2
Registered: 30-07-2007

Re: Credit cards

I'd assume you were just unlucky and paid for the insurance a day or two before the end of the accounting period,  which is why it appeared on a statement so quickly.  (e.g. my CC statement is raised on the 9th)
Usually with the interest free period,  it's a maximum time allowing for a charge being made on the first day of the account period,  and the full payment being made on the payment date following the end of the period.,  e.g.  charge on the 9/8, statement issued 9/9, payment due by 3/10,  as long as it's paid in full,  no interest is charged.
As for a new card,  it depends on your requirements with APR, balance transfers, cash back, overseas charges, etc.  moneysupermaket and others are probably useful for figuring out the best card for yourself.
Edit:  seems I was  beaten to my points while typing...  Smiley
Community Veteran
Posts: 18,551
Thanks: 194
Registered: 12-08-2007

Re: Credit cards

I agree with most of the other comments.  If you can stall a purchase until just after your statement date you will get up to 60 days free credit.  The cc companies don't make anything out of me - I clear my balance each month.
Community Veteran
Posts: 3,826
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Registered: 24-09-2008

Re: Credit cards

Swmbo actually counts the days and stalls paying bills until just after the statement date.
Community Veteran
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Registered: 02-08-2007

Re: Credit cards

Not sure if it's important but some cards give you cash back at the end of the year as well as the 59 days before payment.
That's what I get on my Halifax card (Mastercard)
JamesM
Grafter
Posts: 1,103
Registered: 24-06-2009

Re: Credit cards

Thanks for all your replies,
I might have to go for a tesco one as then I will get points, I have had a look at a few old statements and it seems that Yorkshire bank dont have a regular statement date, 15th of the month, 18th of the month,  so it looks like they saw my payment on the 14th, and held off the new statement until the payment was debited on the 17th so they could get me for October and not November. I wouldn't put it past them anyway, I do not trust and am not a big fan of banks.
Unfortunately, my car insurance was due Monday so I had no choice but to pay it Monday.
Community Veteran
Posts: 18,551
Thanks: 194
Registered: 12-08-2007

Re: Credit cards

I pay my cc from my current account.  I can now do this on the due date without worrying about it arriving on time as the transfer is immediate.
nadger
Rising Star
Posts: 4,498
Thanks: 46
Registered: 13-04-2007

Re: Credit cards

Not that it causes a problem but Tesco take my total payment on 21st of month when actual due date is 26th. I've never bothered challenging this but it is rather strange.
David_W
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Posts: 2,293
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Registered: 19-07-2007

Re: Credit cards

If you're looking for a Credit Card you first want to know you're getting the best option available for you.  Head on over to https://www.noddle.co.uk/ and register (it's free for life) and it'll give you a credit score between 1 (bad) and 5 (perfect) as well as listing which cards you're likely to get accepted for (the number in the thumbs up is your chance of being accepted).
If you then click on My Requirements you can choose which card suits you best, low rate, cash back, purchases.
Knowing which ones will give you a card (if you have 5 it'll be all of them) head over to http://www.moneysupermarket.com/credit-cards/ and compare the cards on offer.  The low rate ones would be a good place to look, starting at 6.9%.
Community Veteran
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Registered: 24-09-2008

Re: Credit cards

From https://www.noddle.co.uk/
Quote
Sorry, we haven’t been able to verify and validate your identity and can’t provide your credit report.
We’re sorry but unfortunately we’re not able to provide you with access to your credit report as we’ve not been able to automatically verify and validate your identity. As your credit report contains such personal and important financial information we need to make sure that we only make it available to the right person.

Get the same with Experian and Equifax, one of the drawbacks of paying a credit card off by direct debit, no credit details
Moderator
Moderator
Posts: 25,789
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Registered: 14-04-2007

Re: Credit cards

My credit rating is generally poor simply because I don't use a credit card and don't have any outstanding loans I am paying off therefore no credit checks on me.
Customer and Forum Moderator.
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