Halifax one credit card interest charge

Coveredinbees!!!!

My wife has a Halifax one card account which she has had for about 18 months. She had an initial deal on it for 12 months 0% on purchases which ended in April and was paid off with out any interest charges, Halifax then offered another 0% period on purchases which ended in October. On the October bill the the balance was £1306.41 with a minimum payment of £13.06 estimated interest of £0.00. When the November bill arrived it showed the outstanding balance of £1293.35 with no added interest, estimated interest £12.93 and a repayment date of 15th December, which was paid in full on the 6th of December giving plenty of time for the payment to go through. When the December bill arrived it showed the transaction had been processed on the 8th of December but Halifax have charged £8.44 interest. My wife rang them to find out why they have done so and she was told it was because she had only paid the minimum payment in October but surely this should have been charged on the November bill ? Needless to say she's not happy and has cancelled the card but I think they owe us the money back. I know it's only £8.44 but it's the principle and it seems an underhanded way of charging.

Any comments would be welcome.

Kavanne

If the 0% ended in october then surely she would have had to pay the balance by then to avoid interest?

Moggles_2

If, on 6 December, your wife decided to pay off her statement balance in full, having made the minimum or a partial payment the previous month, residual interest (or trailing interest as it's sometimes known) would accrue on a daily basis from the date of her last statement to the day the funds are credited to her account. If she were to settle the statemented balance in full for two consecutive months, she would then have x days interest-free on purchases as normal. This applies to all credit cards, not just the Halifax card.

To avoid interest on her next credit card, she needs to know the date on which any interest-free period expires (not just the month) and arrange payment in full to clear the before the interest-free period ends

jonesMUFCforever

So a card on which OP's partner has had 2 good deals has been cancelled because OP did not understand the terms and conditions of the deal.
I bet Halifax shares will fall through the floor tomorrow when the markets hear of this LOL.

Coveredinbees!!!!

I get what your saying the interest was charged from the last statement date to until the bill was cleared but I thought you still got the up until the payment date interest free and were only charged then.

We paid off the previous 0% in exactly the same way and wasn't charged anything.

The card was going to be cancelled anyway so smart comments aren't really necessary are they?

jonesMUFCforever

Coveredinbees!!!! wrote: »

I get what your saying the interest was charged from the last statement date to until the bill was cleared but I thought you still got the up until the payment date interest free and were only charged then.

We paid off the previous 0% in exactly the same way and wasn't charged anything.

The card was going to be cancelled anyway so smart comments aren't really necessary are they?

Why not you are cutting your nose off to spite your face.

Coveredinbees!!!!

jonesMUFCforever wrote: »

Why not you are cutting your nose off to spite your face.

What are you on about, the card isn't needed any more as she has an new MS card with 10 months 0% on it and yes this one will get paid off before then end of the deal.

jonesMUFCforever

You seemed to have run the card well -otherwise you would not have got the second offer.
MBNA are always offering interest free or low rate balance transfer offers to me because I have paid back previous ones without trouble.

normanmark

The 0% ended in October, if the balance wasn't paid off by that point then interest would have accrued, which is why you've seen it on the statement. It's a valid charge & you'll just have to put it down to experience.

YorkshireBoy

In my experience, Halifax have some of the best laid out statements of all the providers. For example, during the introductory period the 0% end date is clearly shown on all statements, not just the penultimate one.

Do they not do the same with follow on special offers like the OP has enjoyed?

jonnyb

Any comments would be welcome.

The card was going to be cancelled anyway so smart comments aren't really necessary are they?

Deal ends October, but you don't pay the balance in full by end of October, and you wonder how you got charged interest ? Muppet !:D

You clearly have a lot of feedback from spending a lot of time on this site; obviously not spent much time on the credit card section before then, or you would know how cards work.:p