HSBC Credit Card

Slayerx

Just applied for one as its interest free for 13 months and my current card runs out in August.

Im shocked to see there trying to charge me £130.27 classed as some kind of interest charge for having the credit card !

Is this normal ?

I've never been charged for just getting a new credit card :mad:

YorkshireBoy

You've misread the T&C's. Called 'total charge for credit', it's simply an example of what you would pay under a certain set of conditions, and is required by law to allow you to compare credit card deals.

Nothing to worry about.

Slayerx

Your right I have it wasnt very well presented in the agreement.

Thanks.

Christopherj_2

After the initial 13 months, do you get charged to own the HSBC credit card? On my statement, it says 'total charge for credit £40.96' and what does interest rate per annum for purchases 15.9% mean.

ShelfStacker_3

Christopherj wrote: »

After the initial 13 months, do you get charged to own the HSBC credit card? On my statement, it says 'total charge for credit £40.96' and what does interest rate per annum for purchases 15.9% mean.

No.

The total charge for credit is an illustrative figure; that is, it illustrates how much you would pay if you left X balance on the card for Y amount of time at Z interest rate. No more, no less. If a card has an annual fee, or any other such fee, it will be shown as such.

Christopherj_2

Here's what it says on the back of my statement:

OTHER FINANCIAL INFORMATION

Total charge for credit: £40.96
Comprised of the following:
Total interest charge annual fee of: £40.96