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question about balance transfers
james1985_3
Posts: 2 Newbie
in Credit cards
i got balance transfer for 2500 0% till next year. i then used the card and spent 100 on it today on my balance sheet it said "next estimated interest 39 pound" does that mean because i have spent 100 on the card i now have to pay interest on the full amount?
0
Comments
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39 quid interest for 100 i spent 1 month ago cant be right0
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Its interest on the whole balance not just the purchases by the looks of it.0
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Sounds like an RBSG card (Mint, Tesco, NatWest, etc). IIRC their systems 'assume' the entire balance is interest bearing, not just the purchases balance.
You'll probably find the actual interest charged on your next statement is somewhat less than the estimated amount.
All the above is assuming, of course, you haven't breached the T&C's.0
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