pay back cc

hook

i have a halifax one card with a limit of £1500 i have used up all of it bar £30 i have got some money spare and want to pay the whole lot of next week. i know this sounds as if im stupid but if it has £1500 on it do i have to pay anything each month. i.e interest.

diable

If your statement says that you have to pay back £1470 then that is all you have to pay unless you have the amount outstanding for more than a month then the interest will be added to it.

What does your statement say?

hook

at the moment it says i just pay £16 a month but would like to pay it all back next week..

debtdestroyer007

lucky u.........

thriftymomma

If you have run the credit up this month and this is your first bill then you will have no more to pay.
If you have had this balance for a while, you will still get a statement and interest to pay next month. That is residual or trailing interest.
Hope that helps.

CLAPTON

from what you say it looks like you have had a balance for some time so
if you pay in full this month then next month you will get a bill for interest
if you pay that in full then there will be no futher interest

hook

ok thanx all