The Money Mustache Community

Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: FuckRx on September 22, 2013, 03:41:39 PM

Title: how do i use my credit card without being charged interest?
Post by: FuckRx on September 22, 2013, 03:41:39 PM

i want to use my amtrak credit card to keep getting free rides on the amtrak. it has a zero balance right now (yipee) and i want to use it but not have to pay interest on the balance. if i set it on autopay and have it pay off the whole balance every statement will i get charged interest? i believe it's a 15% interest card.

Title: Re: how do i use my credit card without being charged interest?
Post by: Christof on September 22, 2013, 03:52:17 PM

Is that the Chase card? If yes, the following quote frome their terms page seems pretty clear to me. Yes, paying off the whole balance will prevent interest:

How to Avoid Paying Interest on Purchases
Your due date will be a minimum of 21 days after the close of each billing cycle. We will not charge you periodic interest on purchases if you pay your entire balance by the due date each month. We will begin charging interest on balance transfers, cash advances, and overdraft advances on the transaction date.

Title: Re: how do i use my credit card without being charged interest?
Post by: seattlecyclone on September 22, 2013, 03:55:20 PM

That's generally true for credit cards. I haven't yet seen one where you will have to pay any interest if you pay off the entire balance by the bill's due date.

Title: Re: how do i use my credit card without being charged interest?
Post by: FuckRx on September 22, 2013, 04:34:26 PM

yes (wow great memory)...my chase amtrak...
ok great, thanks guys as always...