Interest free days on credit cards explained in under 2 minutes

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I ' ve simply.

Video Transcript:

G'' day, I ' m Angus Kidman from Finder and
I'' m here to tell you how you can save a fortune when you'' re shopping by taking
benefit of interest-free days on your credit card. When you'' re comparing credit cards you'' ll notice that they frequently price quote that they'' ve “got “up” to” a particular variety of interest-free days. That might be 30 it may be 44 or it may be 55. Understanding how those days work is actually important to make sure you wear'' t pay more interest than you need to. Your interest complimentary period starts on the day your declaration is issued and it ends up on the due date when you have to make your next payment.So that number of days you see that'' s. counted up to a certain figure is the maximum number of days that you. might go interest-free. If you buy halfway through the month.
you'' re not gon na get that optimum number. It could be a lot less and if you.
put on'' t pay the balance off then you will end up paying interest'.
So let ' s picture. that I ' ve got a card which has up to 55 interest totally free days.
I ' ve just. got my latest declaration and I'' ve simply headed out and bought this shirt. I will.
have an entire 55 days to pay that off and supplied I pay for the shirt.
prior to that time I won'' t wind up paying any interest on it.So the essential thing.
to bear in mind is that as the due date gets closer the variety of interest free days.
goes down. So if I choose to purchase this shirt next week then I'' m only gon na get.
48 days interest-free instead of the 55 I got for my very first t-shirt. So.
what takes place when the credit card due date arrives? Well you could pay off the.
whole balance and after that you absolutely won'' t owe any interest however if you had. those 55 days interest-free you might wait another 25 days before you had to.
pay it and you still wouldn'' t attract any additional interest.Our recommendations is.
When you can however if you require to take benefit of, constantly pay off your card.
that flexibility attempt making purchases early in the month instead of later on. For.
more details about how interest totally free days work and to compare a large variety of.
charge card head over to finder.com.au. And if you want.
guidance on Hawaiian t-shirts offer me a call. As found on YouTube – Creative Commons License.

License: Creative Commons