The Mudcat Café TM
Thread #99062 Message #2467025
Posted By: Nigel Parsons
16-Oct-08 - 05:01 AM
Thread Name: Utility bills scam
Subject: RE: Utility bills scam
I quite like to do that with credit cards, pay off all the balance except a penny. They can't charge interest on it, but I once paid over in credit by a penny as well, then didn't use my card for months.
I wouldn't advise this in the UK (i.e. underpaying by a penny). Most card companies have terms and conditions which only allow you an interest free period (from purchase date to payment date) if you pay off the balance in full. So being 1p in debt can land you with an interest bill for the much larger sum.