Abbey Keep Charging Interest

NickX

Sunnyday wrote: »

it seems that now they have become part of Barclays they charge interest from the actual transaction until the balance is paid every month. :rolleyes:

This is only the case with Cash Advances and is the same for pretty much all credit cards.

Barclaycard do not charge interest on purchases if the balance is settled in full before the Due Date.

To the OP, I think you have a cash advance balance that is accruing interest and residiual interest. You need to pay off your balance in full for 2 consecutive months to stop the interest.

Sunnyday

NickX wrote: »

This is only the case with Cash Advances and is the same for pretty much all credit cards.

Barclaycard do not charge interest on purchases if the balance is settled in full before the Due Date.

I looked at the statement earlier and it seems that they are now doing this with ALL transactions. There is a note on there stating it.
It may now be owned by the same company but i do wish they would do it the Barclaycard way. The card is still called goldfish atm so that may change in future.
SD

NickX

Sunnyday wrote: »

I looked at the statement earlier and it seems that they are now doing this with ALL transactions. There is a note on there stating it.

But if you pay the Statement Balance off in full you pay no interest, right ?

If you do not pay off in full, then yes interest accrues from the Date of the Transaction. But this is the same for all cards.

Sunnyday

NickX wrote: »

But if you pay the Statement Balance off in full you pay no interest, right ?

If you do not pay off in full, then yes interest accrues from the Date of the Transaction. But this is the same for all cards.

This used to be the case, i`ve always paid the balance in full every month since i`ve had the card ( about 4 years)
I`ve started getting bits of interest each month which started happening about 2 months ago.
I know that there is a new t&c booklet knocking about somewhere so i`ll dig it out.
Thanks
SD

NickX

I really think that if you pay off in full and there are NO cash advances then you should pay no interest.

Are you sure that there is not a cash advance from a few months back that has accrued interest ?

If you have no cash advances and have been paying in full every month, then I would query why you have been charged interest.

Remember that to clear Residual Interest, you are required to pay 2 consecutive Statement Balances off in full.

Sunnyday

NickX wrote: »

I really think that if you pay off in full and there are NO cash advances then you should pay no interest.

Are you sure that there is not a cash advance from a few months back that has accrued interest ?

If you have no cash advances and have been paying in full every month, then I would query why you have been charged interest.

Remember that to clear Residual Interest, you are required to pay 2 consecutive Statement Balances off in full.

I`ve never used it for a cash advance or anything like gambling which would treat a transaction as such, there is a variable DD set up to cover each month and it`s always gone through ok.

I agree i should pay no interest:D this has only happened since the CC company was taken over.
SD

NickX

Sunnyday wrote: »

I agree i should pay no interest:D this has only happened since the CC company was taken over.
SD

I'd definitely get on to them if I were you. Request that they explain why they have charged you interest. It could be a mistake.

Sunnyday

I`ll ring them later this week, it`s only a tiny amount each month but i need to ring them anyway soon.
Thanks
SD

GRAHAM2109

Thanks for replies.
I am still arguing with Abbey. Each time i get a different reason why i am being charged the interest.

My very first Statement had no problems. I even got £2.67 cash back for my purchases.
I had to pay £107.02 (minimum £5 by 30.04) I paid in full in cash on 23.04

Next statement was for £144.58 (minimum £5 by 01-06) I paid in full in cash on 29.05 I got charged £4.92 interest

Next one was for £770.02 (minimum by 28.06) Also paid in cash in full on 29.05 I was charged £10.79 interest

Last one was for £52.91 (minimum by 30.07) Paid in full in cash on 14.07
I was only charged 7p this time

I have not used card since 26th June so don't know why i was even charged anything. When will it end.

The 7p was due by 31.08 I paid this yesterday.

I don't know what went wrong since forst statement as that was fine.

GRAHAM2109

Abbet staff wont even let me speak to manager when i request it