Charge even though I paid it off

garratt83_2

Hi

I had a halifax credit card and the 12 months 0% ran out. My last statement said I would have an estimated interest charge of £40. But I paid all the card off when I got this bill, before the next statement. I was still charged £22.

Can anyone tell me why I was charged even though I paid it all off before the next statement?

Cheers

exel1966

The introductory period does not end at the payment due date, it would have ended earlier, therefore i suspect you've been charged interest for not clearing the balance in time, but without elaborating it's hard to tell.

YorkshireBoy

Right from the outset, the Halifax monthly statements (uniquely?) show the 0% introductory rate end date. I'm very surprised you missed it...eleven times!

This is the date by which you had to clear the entire balance in order to avoid interest and, as exel states, it rarely (if ever) coincides with a payment due date. Sometimes it's a statement date (MBNA and RBSG[?]), but usually it's some random date based on the date you signed your credit agreement.

You will continue to accrue interest on this account until you clear two consecutive statement balances in full by their respective payment due dates.