cancel
Showing results for 
Search instead for 
Did you mean: 

How Long NO Credit Card Interest?

tag
EW800
Valued Contributor

How Long NO Credit Card Interest?

Just curious how long others have been able to go without paying a single penny in credit card interest.  

in my case, we had serious credit issues in about 2011, but by 2014 got things turned around.  As of this year (2024), my wife and I have made it TEN years without paying any credit card interest at all.  We have two cards that have an annual fee, but thankfully have not paid any interest.  Hooe to keep that going!  

Any others with a good streak going?

 

 

Year 2012: All Scores in the 520 range, during a foreclosure, CC Settlement and high UTIL. Very ugly days...
Sept 2024: EX8: 847; EQ8: 850; TU8: 848 -- Middle Mortgage Score: 821
In My Wallet: Discover $73.7K; Cap1 Venture $51.7K; Amex ED $38K; Amex Optima $2.5K; Amex Delta Gold $18K; Citi Costco $24.5K; Cap1 Plat $8.4K; Barclay $7K; Chase Amazon $6K; BoA Plat $21.6K; Citi TY Pref $22K; US Bank $4K; Dell $5K; Care Credit $6.5K. Total Revolving CL: $300K+
My UTIL: Less than 1% - Only allow about $20 a month to report, on one account. .
Message 1 of 24
23 REPLIES 23
longtimelurker
Epic Contributor

Re: How Long NO Credit Card Interest?

I'm sure there are some very long streaks!  I got my first credit card in 1977 and haven't PAID interest.  In one case, interest was charged (autopay wasn't set up correctly) and the issuer reversed the charge when I explained

Message 2 of 24
TSlop
Valued Contributor

Re: How Long NO Credit Card Interest?

I've never carried an interest-bearing balance since opening my first credit card back in 2006. I do take advantage of 0% finance options when I need to (Best Buy, Google, etc.) and I always pay them off before the period ends. I have never done a balance transfer, but if the need ever arises, I wouldn't hesitate.

 

I try to live within my means and I've been fortunate enough to never have had a large enough life disaster to warrant carrying a credit card balance. I try to treat credit cards as cash that earns me more cash (excluding my 3 AF cards).

Message 3 of 24
longtimelurker
Epic Contributor

Re: How Long NO Credit Card Interest?


@TSlop wrote:

 

 

I try to live within my means and I've been fortunate enough to never have had a large enough life disaster to warrant carrying a credit card balance.


That's a good point, there are cases where carrying a balance is the only option and so a long history of no interest is partially a reflection of good fortune!

Message 4 of 24
CorpCrMgr1
Valued Contributor

Re: How Long NO Credit Card Interest?

Congratulations on your extended interest free decade! In May it will be ten years for me. My water bill payment got loss in the mail and I had to pay a penalty. It has yet to show up after a year. 

Message 5 of 24
Rogue46
Established Contributor

Re: How Long NO Credit Card Interest?

I don't know exactly how long I've gone without paying interest but it's very satisfying to see "0.00 interest paid year to date" on my statements





Message 6 of 24
Kforce
Valued Contributor

Re: How Long NO Credit Card Interest?


@longtimelurker wrote:

I'm sure there are some very long streaks!  I got my first credit card in 1977 and haven't PAID interest.  In one case, interest was charged (autopay wasn't set up correctly) and the issuer reversed the charge when I explained


Have you by just two years 1975.  

Have always been PIF, no BT, no Cash Advance.

 

Message 7 of 24
Horseshoez
Senior Contributor

Re: How Long NO Credit Card Interest?

I'll be 11 years this September.  Smiley Happy

Chapter 13:

  • Burned: AMEX, Chase, Citi, Wells Fargo, and South County Bank (now Bank of Southern California)
  • Filed: 26-Feb-2015
  • MoC: 01-Mar-2015
  • 1st Payment (posted): 23-Mar-2015
  • Last Payment (posted): 07-Feb-2020
  • Discharged: 04-Mar-2020
  • Closed: 23-Jun-2020

 

I categorically refuse to do AZEO!

In the proverbial sock drawer:
Message 8 of 24
FicoMike0
Valued Contributor

Re: How Long NO Credit Card Interest?

I'm not sure how long. I don't remember ever paying interest.  I think I got my first m c in 1969 ( I didn't apply they just sent it, lol).  I may have when I was busy working and my d w was paying all the bills, she was big on rolling balances into 0% deals.

I was credit retired for five or six years, my oldest open account is 16 months.

Message 9 of 24
ptatohed
Valued Contributor

Re: How Long NO Credit Card Interest?

I don't think I have ever carried a balance and paid interest on purpose.  30 years of credit cards for me.  I think I was accidentally late a few times over the years but if I remember correctly, I would call and get any fees or interest reversed.  When I was in my late 20s/early 30s, I did use one of those 1.9% promo rate checks to buy a used car so I did pay some interest then.  And this was arguably dumb (but it worked out, lol), I used one of those low rate promo checks for part of the down payment on my current house, bought in 2008, so paid some interest there too.  So, the answer to the last time I paid (low rate) interest is probably 2009, 2010 at the most.  

5% CB rotating: ;
Everyday 3% CB: ;
Everyday 5%: ;
Companion Card: ;
Everyday 2.2% CB: ;
Retired to sock drawer after AOD (kept alive w/ 1 purchase every 6 mo): ;
On my radar: ;
Still Waiting for an Invite: ;
No hope:
Message 10 of 24
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.