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credit card going overdrawn
tbag23
Posts: 48 Forumite
in Credit cards
right, i went overdrawn on my credit card last month so to get things on track i paid more than i should. I was something like £100 overdrawn so i paid £190 to get everything on track as next months estimated interest was £59. well i have been charged £94 interest so now i am back overdrawn again. anyone know why? i have not used my credit card by the way since.
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Comments
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Persumably you were slapped with an overlimit fee?0
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yes i was slapped with an overlimit fee why?0
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no i meant why were you asking, i got charged £94 interest when the estimated interest was only £590
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Have you telephoned the bank to ask? As we cannot see your two statements we are at a detriment.0
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right, i went overdrawn on my credit card last month so to get things on track i paid more than i should. I was something like £100 overdrawn so i paid £190 to get everything on track as next months estimated interest was £59. well i have been charged £94 interest so now i am back overdrawn again. anyone know why? i have not used my credit card by the way since.
Out of the £190, £100 simply covered the overdrawn amount. Did the remaining £90 cover all the due interest, overlimit fees, any PPIs, are any particular balances paid off first? To be absolutely sure that you do not go over the limit call up your card company and find out the exact amount that needs to be paid.0 -
Turn your statement over and read the bit on the back about how they calculate the estimated interest amount and what assumptions they make in doing so.0
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