Halifax credit card statement help

jso

Hi,

I need somebody who uses a halifax credit card to explain my online statement! I have only use it for 2 months, and here is my recent statement below:

Your Credit Limit £250.00
Available Credit £247.00
Statement Opening Balance £228.16CR
Last Month's Payments & Credits £0.00CR
New Transactions & Interest £231.03

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Closing Balance £2.87

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Minimum Payment Required £2.87
To Reach Us By 22.09.08
Next Month's Estimated Interest £0.50


I, with a combination of mistakes and misunderstood the terms, paid too much at the end of the 1st month since my card's 1st used, then realised my card has a 59days interest free period, so I end up with credits (CR) into the second month, which I have nothing to pay. the statment shown above is the third month which closing balance of £2.87(also the minimum requirement), payment due date is 22.09.08, what confusses me is, why is there is £0.50 next month's estimated interest? am I suppose to just pay off my minimum payment of £2.87 by the payment date? if not, why and where is this £0.50 Estimated Interest came from?

jayjayuk

hia, did you use it to get cash??? as this could be where its come from???

i used mina abroad for 1 month paid it off and closed it down, so it wouldnt be anything to do with using it abroad if you had.

jso

no, i have never use it for cash withdrawn

jimclark1967

Impossible to say without knowing the precise transaction and statement dates.

In general if there is interest payable if will be rounded up to 50p even if the actual amount is only 1p - harsh but it's in the T&Cs.

If you paid the minimum payment by the due date last month then the full balance a couple of days later this would generate an interest charge - again, impossible to say without details.

JC

Dave_®f©

The estimated interest is a guide to what you'll pay if you don't clear the card in full by the due date. If you pay in full before the 22nd Sept then no interest will be applied to next months statement.

Pay the balance amount and you will not be charged the interest.

NickX

Well the Minimum Payment is equal to the Statement Balance, so without any Cash Advance type transactions there should be no interest payable.

As others have said the 50p figure is probably a minimum interest payment which you have to pay even if the interest is only 1p (complete rip-off IMO :mad: )

You say that you have not made any cash advances, however people are often caught out because certain other transactions are classed as cash advances including gambling transactions, purchase of foreign currency and even the purchase of certain gift vouchers.

If you overpay the balance by the 50p (i.e. £2.87 + £0.50 = £3.37) then this will stop any further residual interest accruing.