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Barclaycard Finance Question

M

MrJay23

macrumors member
Original poster
Oct 12, 2011
67
1
So i have a Barclaycard from Apple when i bought my macbook and i use it as my credit card now since im just a college student.

I got an email from them saying that if i make a purchase 600+ its 12 months interest free and under 600 it 6 months interest free.

I want to buy an iPad, but i want the new one which will come out AFTER January, so I'm thinking, can i buy a 50 dollar gift card (i'll be getting apple gift cards for the ipad also) so i can get the 6 months interest free?

Thanks
 
No

I don't have one of these cards, but generally an interest-free promotion is only for a single purchase, other purchases will still accumulate interest. So buying a $50 iTunes card may get you 6 months interest free on the $50 purchase, but that will not apply to the entire balance of your card. Usually any payments made will apply to promotional or lower interest rate balances before higher interest, regular balances.

To really benefit from these offers, you should not have a balance on the card when making the promotional purchase, and make no new purchases while paying on the promotional balance. You would also need to pay off the entire purchase before the 6/12 months are over, or they add all of the interest that accumulated over that period of time, so really you don't save anything.

The better route is to start stashing some money away now, so you will be able to purchase it when it comes out, or at least use that to pay for part of it and put the rest on your card, and pay the remaining off as quickly as possible!
 
I could be wrong, but I do not believe credit card companies are tacking on any accumulated interest after the 0% is up. They will begin charging interest only on the remainder of the balance. However, your best bet would be to contact Barclay directly. I have had a Barclay card for a couple years now and I always receive promotional offers, so I'd just wait. I'm sure they will run another promotion once the new iPad is released to try and get us current users to upgrade.
 
upsbrown said:
I could be wrong, but I do not believe credit card companies are tacking on any accumulated interest after the 0% is up. They will begin charging interest only on the remainder of the balance. However, your best bet would be to contact Barclay directly. I have had a Barclay card for a couple years now and I always receive promotional offers, so I'd just wait. I'm sure they will run another promotion once the new iPad is released to try and get us current users to upgrade.
Click to expand...

If you make a purchase using Barclaycard's offer, you need to pay off the whole purchase amount by the end of the interest free period, or you will pay deferred interest charges incurred over the period of the offer. Every statement will show the amount of deferred interest, the current balance of the deferred amount and when it needs to be paid in full.

I've used this card twice; once for an MBA and once for an iPad 2 so I know how their deal works.
 
PBG4 Dude said:
If you make a purchase using Barclaycard's offer, you need to pay off the whole purchase amount by the end of the interest free period, or you will pay deferred interest charges incurred over the period of the offer. Every statement will show the amount of deferred interest, the current balance of the deferred amount and when it needs to be paid in full.

I've used this card twice; once for an MBA and once for an iPad 2 so I know how their deal works.
Click to expand...

Did you use the same card twice? I just paid off my MBP and was looking ahead at getting an iPad 3 (once it is released) and if they have that offer again of interest free that will be great. I always thought it was only an introductory offer and then they don't offer other promotions again.
 
billnye97 said:
Did you use the same card twice? I just paid off my MBP and was looking ahead at getting an iPad 3 (once it is released) and if they have that offer again of interest free that will be great. I always thought it was only an introductory offer and then they don't offer other promotions again.
Click to expand...

It seems to be a standing offer for me at the Apple Store anytime I use the Barclay card.
 
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