credit card charging me for using own money

cheepskate_2

Hi All
Dont know if this is the correct ofrum to be on ,
anyway here is the senario

cc statement produced on 19 jan stating balance 1388.90. payment due date 10 feb. this balance was cleared in bank on 03 feb. 10 feb also added 33.33 to cc account, account now in credit by 44.43.
new statement 16th feb adds in £44.23 on 20 jan , so i was still in credit by 20 p (1 day after last statement produced). total interest charged 11.97. new balance 11.77.

Correct me if i am wrong but are they charging me to borrow my own money .

Bokken_2

Unless you have paid your account in full from the previous month you will incurr an charge of interest on your account from last statement date to this one,hence the £11.97 charge.
You have to clear you balance in full each month consecutively or you don't qualify for the 56 days interest free.
You'll have to check your T&C's but you'll find the above applies.

cheepskate_2

hi

thanks for the advice , have checked and that is so , always thought when i cleared my accounts that no more interest was added,, must be having one of those days...

Bokken_2

cheepskate wrote:

hi

thanks for the advice , have checked and that is so , always thought when i cleared my accounts that no more interest was added,, must be having one of those days...

easily done,try and keep on top of it as best you can and aim to pay no charges and no interest.
good luck for next month.