so using my halifax credit card is not free!?!?!

volcom883

i've always used my hsbc card and never had to pay any charge as long as not gone over my limit. recently on this site i read about credit cards giving 1% cashback on the spendings so i was like yeah why not?
i got a halifax cashback credit card a month ago and today on my statement it said:
Next Month's Estimated Interest £10.44
when rang halifax they said "hey, how do you thinks credit card companies make money?"
i really thought using any sort of credit cardwas free! they said to look out for a card without interest.

when applying for another card how do i know if its interest free or not? does it say on the main page or in the t&c? what do i have to look out for? is the egg one interest free?

michilin27

more info needed to determine why u have been charged interest- did you use your card for cash? did you miss you payment at any stage?

The_One_Who

I thought estimated interest is what you will be added on to your balance if you only pay the minimum amount that month?

volcom883

no i only paid in shops. never used it at any atm nor used abroad.
i've direct debit set up for the full amount so cant actually miss any payment

NickX

If you pay back in full before the Due Date no interest will be charged whatever that estimate says, don't worry about it.

michilin27

as nickx says then if you pay balance off in full then no interest will be charged- card companies have to notify you of potential interest even if you intend to pay off in full

i take it the halifax cash back card didnt have an intro offer? i cant rem!

volcom883

ok just spoken with another person at halifax they confirmed nickX told me, i dont have to pay them any fee as long as i pay the full amont on time. i put a complaint through and a manager should get back to me tomorrow. the guy literally laughed when i said i thought using my card was free.
thank you very much guys. problem solved! vive la halifax cashback card!

michilin27

let me get this straight- you thought the card was interest free regardless of what payment you make?

YorkshireBoy

volcom883 wrote: »

ok just spoken with another person at halifax they confirmed nickX told me, i dont have to pay them any fee as long as i pay the full amont on time.

If you turn to the back of page 2 of your statement you will see...

Halifax_credit_card_statement wrote:

Estimated interest

This figure is an indication of how much interest will be charged next month, based in the following assumptions.

* you only pay the minimum payment shown and this is applied to your account on the due date.

NB: I've left out the other 5 assumptions for clarity.

There's lots of other useful information on the reverse of all (3) pages of your statement.

i put a complaint through...

About what?

JimmyTheWig

michilin27 wrote: »

let me get this straight- you thought the card was interest free regardless of what payment you make?

No, they thought Halifax were going to charge them despite paying off the full balance. But the person they spoke to thought the same as you and so laughed at them.
I think that's the complaint.