Interest charge has gone up but APR is the same.

beasygirl

Hi was wondering if anyone can help. I currently have an Egg card with an APR of 21.9% and a balance of £710.68.
For this month I got charged interest of over £20 which I thought was incredibly high, so I looked back at my previous statements and last year on a balance of over £900 I only got charged £11 interest.

Can anyone offer any explanation to this? I'm reluctant to call them up as I never seem to get any joy from their call centre.

Just to add, I havent missed any payments and pay a fixed amount every month that is higher than the minimum monthly payment.


Thanks in advance.

fozmcfc

I can only think that either

A/ APR has gone up, I know mine did with Egg every year.

or

B/ you have made a cash machine withdrawal or a transcation such as a betting site transcation which also can be classed by companies as a cash machine withdrawal.

If you have done such as thing then you will be being charged seperate interest for normal purchases and cash withdrawals, with cash withdrawal interest being particularly higher than purchases.

beasygirl

Thanks for your reply, I have now contacted Egg wasn't as painful as I first thought!

Was told the reason for the high interest was because I changed the date the d/d was taken so was in theory paying interest on closer to 2 months. Having been informed I thought I would post in case this helps someone else.