Balance Transfer - Statement Balances

jkduser

Hi,
I recently transferred an amount of money between two credit cards. I checked the balance of the two credit cards this evening and could see the new balance on my new card. I can also see that the balance on my old card has still not been reduced by the amount transferred.

I am thinking that I am being charged interest on my old card which I shouldn't be.

Is this a scam ran by the CC companies?

Cheers

Reubenscane

Is it not the case of one bank being faster than the other, one could be a building society and the other being a bank, different was and time scales of clearing mate...

cooltt

Yes it is a scam they all do it. Amazing insn't when a balance goes on to your card it's there in seconds but when you transfer or pay some money off your card takes 3 days to clear. Quite pathetic really.

dfh

Credit card companies are a law unto themselves

jonesMUFCforever

Just remember you don't have to use them!