Interst Credit Card Question?

andycorleone

Hi, Last month I made a mistake the Statement was £3600 but I paid 2600 Natwest charged me £99 interst in the January statment :mad:

the January Statment is for £4000 Which I have to pay by 20th of february

How Much interest I have to pay if I :
1)Pay £1000 Today and the Remaining £3000 on 20th February
2) Pay £4000 Today
3) Pay £4000 the 20th of February

I called them and they mention something about they are charging £2.20 everyday until I pay. Hope this make sense and really appreciated if someone help me to understand this.

normanmark

Overpay the statement balance as soon as possible. To be on the safe side, around £4100. This hopefully should cover any residual/trailing interest.

If the account goes into a positive balance then the card company can refund that amount back to you in a cheque/bank transfer format.

andycorleone

thank you, but approximately how much interest I will have to pay? in each case?

rb10

The amount of interest you pay will depend on the rate. But you will pay the least interest on option (2), followed by (1), and the most interest if you do (3)