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Cash Intrest charged on £0 balance on capital 1 credit card
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Or am I missing something here?
Yes you are missing something.
It's "cash interest" so interest accrued for a cash advance which will still accrue from tafter he statement date. So the second statement would have included this final amount of interest."One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
Well as the title of the thread says "cash interest" - what do you think?
"One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
I deleted my post after realising I was being stupid. Wouldn't that have shown up on the statement though? if the cash had been taken out , say, 1st Feb then it would have shown up on the feb statement along with the interest, surely?Interest wouldn't keep accruing if the statement was pai in fullWell as the title of the thread says "cash interest" - what do you think?0 -
I deleted my post after realising I was being stupid. Wouldn't that have shown up on the statement though? if the cash had been taken out , say, 1st Feb then it would have shown up on the feb statement along with the interest, surely?
No - if cash was taken out in January but was only paid off in February, then the interest would still have been accruing until the paid date. That extra interest then shows up in the next statement. There is no "interest free" period for cash advances and the interest keeps building until it's paid.
It's one of the little ways they like to screw as much money as they can out of you and is why you should never use a credit card in a cashpoint. But it's standard practice for most card companies."One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
Ah I see. It would have been the interest accrued between the date the statement was sent out and the date they paid it so even if they paid in full as soon as the statement arrived they would still be charged a little bit. Makes sense now. Thanks mrcow.No - if cash was taken out in January but was only paid off in February, then the interest would still have been accruing until the paid date. That extra interest then shows up in the next statement. There is no "interest free" period for cash advances and the interest keeps building until it's paid.
It's one of the little ways they like to screw as much money as they can out of you and is why you should never use a credit card in a cashpoint. But it's standard practice for most card companies.0
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