Interest Free Credit Cards

A credit card interest free period is the promotional perios that a credit card lender offers before they will start charging interest on any outstanding credit card balance. The longer the interest free period the more time you have to pay of your existing balance but you should be aware that when this period expires you will have to pay interest on the balance owed.

The promotional interest free period terms and conditions vary from offer to offer and some credit card lenders will offer an interest free period for balance transfers and some for new balances. You may also see offers for both. Most credit card lenders will not include credit card cheques and cash advances in these promotional offers and they may actually charge higher interest rates for these options. Also you should note that interest may start immediately on cash advances and credit card cheques, in addition there may be a fee for cash advances. In some credit card lenders terms and conditions they will specify that the months balance must be paid in full to avoid interest charges.

The main thing is to read all the credit card lenders terms and conditions fully and make sure you understand all the terms especially the point coversing the interest free period of the credit card. If you have any questions contact your credit card lender or the Citizens Advice Bureau (CAB) for advice (prior to signing up for the credit card if possible).

Remember

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