Interest??

Nicky321

I rang several credit card companies on 25th August 2006 for settlement figures which they gave me. I set up these payments to be paid directly from my bank account (set up on friday 25th) When i have checked the balance I have noticed that all but 2 of the card accounts now have balances of £0.00, but the other 2 card companies have charged interest which they applied to the account on 24th August but this was not included in the settlement figure. The interest is £35 on one card and £60 on the other card. I am annoyed that they never informed me that these charges would still be outstanding when i had paid the settlement figure they gave me..... What can I do about this?

Call_Centre_Monkey

Not much, the interest is a legimate whether they told you or not. Usually the credit card companies can't see exactly how much interest you've been charge until you're statement has been printed off. If you look at your statements it would give an estimated amount of interest you should have taken into account.

Nicky321

Call_Centre_Monkey wrote:

Not much, the interest is a legimate whether they told you or not. Usually the credit card companies can't see exactly how much interest you've been charge until you're statement has been printed off. If you look at your statements it would give an estimated amount of interest you should have taken into account.

But surely this interest would have been showing on the balance on the 25th? and surely the word "Settlement" would have informed them i wanted to clear any outstanding debts on the account. I wouldnt have minded if they said "the balance outstanding is £** amount and the interest that would be applied is £**" or "balance outstanding is £** excluding any interest due to be applied"