Halifax one credit card interest charge

bitterSTAR

Coveredinbees!!!! wrote: »

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.

The November statement showed that you were now incurring interest!

Anyways, you know that the deal ended in October, so ofcourse you're gonna incur interest if you don't pay it off by then! Going over your interest free period is gonna rack up interest!

williham

I think everyone is wrong..

interest free ends in october so you pay the minimum payment in october
then you get novembers statement and it says NEXT MONTHS estimated interest is £xx.xx but you don't pay this interest if the balance is paid off in full.

I think that there should have been no interest paid.

normanmark

williham wrote: »

I think everyone is wrong..

interest free ends in october so you pay the minimum payment in october
then you get novembers statement and it says NEXT MONTHS estimated interest is £xx.xx but you don't pay this interest if the balance is paid off in full.

I think that there should have been no interest paid.

No you're wrong.

The deal ends on a specific date from October. If the balance is not paid off in full by that date then interest is calculated from that day until the date its paid off in full. If you wait until Novembers statement then you're going to pay the interest from the day when the deal ran out to the date of that statement.

NickX

normanmark is correct, you must pay back in full before the precise promotion expiry date.

The standard "interest free" period of up to 56 days only applies when paying off in full outside of the promotional period.

Many have fallen into this trap.