Is HSBC CC Interest wrong?

Private_and_Confidential

I've just checked by HSBC CC online statement ans the interest has just been added.... One of which is £3.39 for cash advances.

Last month the interest on Cash Advances was £2.96, yet since last month I haven't used my card for cash or purchases.

Working backwards, I'm figuring that the interest of £3.39 (at a rate of 2.073%) is for total Cash Advances of £163. Whereas the interest of £2.96 (at a rate of 2.073%) is for total Cash Advances of £142.

So (by my calcs which are likely to be wrong) the Cash Advances balance I'm being charged for has gone up from £142 to £163 - yet I haven't used the card. In fact, I haven't used the card for months and months and months.

Any ideas anyone ??

Needless to say, I asked HSBC who were incapable of providing a reasonable explanation and are sending me a booklet.

YorkshireBoy

There were probably fewer days in your last statement period (only 30 days in November), and there may have been more days in this statement period (especially if they allowed for the 3 public holidays).

What were the dates of your last two statements?

There may also be some compounding of interest.

It also depends on how quickly you make a payment, following statement production.

What do your T&C's say about the 'order of payments'?