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Credit Card Interest Charges on Cash (Travellers Cheques)
giantwolf
Posts: 4 Newbie
in Credit cards
Hi,
I have a HSBC Mastercard and despite paying my bill in full every month I have this month been charged £11 interest for "interest on Standard Balance (Cash)". The only thing I can think this relates to is a purchase from the post office when buying travellers cheques for my recent honeymoon (does this count as cash?). I have never come across this before (despite buying currency in the past) and certainly wasn't aware this goes on.
Is it a recent change and just isolated to this card or is it more widespread?
Regards,
Richard.
I have a HSBC Mastercard and despite paying my bill in full every month I have this month been charged £11 interest for "interest on Standard Balance (Cash)". The only thing I can think this relates to is a purchase from the post office when buying travellers cheques for my recent honeymoon (does this count as cash?). I have never come across this before (despite buying currency in the past) and certainly wasn't aware this goes on.
Is it a recent change and just isolated to this card or is it more widespread?
Regards,
Richard.
0
Comments
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Is it a recent change and just isolated to this card or is it more widespread?
Unfortunately I think your purchase of Traveller's Cheques will have bee processed as a Cash Withdrawal.
This is not a recent change and it is fairly widespread. If you purchased currency in the past and had the transaction treated as a normal purchase, I'm afraid you were simply lucky in that situation.
Bad Luck :mad:0
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