Barclay card Interest???

Jackie47

Good morning all

I wonder if anyone can advise on my Barclaycard statement please?

Last month I managed to pay £3000 of my total bringing it down to £800, but I notice that the interest charged on my statement this month is £63.88!

I'm a bit of a numpty with all this but surely if I paid on time and my balance was a lot lower, then the interest should be lower too??? Just checked September's statement and it was £74 ish on a balance of £3800.

Thanks in advance

Jackie

CLAPTON

unless you pay in full each and every month then you pay interest from the moment to spend the money to the day you pay it off; you paid interest on the full 3,800 until you paid the 3,000 in and then paid further interest on the remaining 800.

LillythePink

Did you withdraw cash out as part of the 3,800 balance?

This sort of thing happened to me earlier this year. I settled my cards and closed my account - but had a statement through the next month saying that I still owed them some money which was interest - even though I had settled the account fully before the due date, they still charged me interest.

The cash withdrawal thing is what they blamed the additional interest on!

Adnd this was Barclaycard as well

jonesMUFCforever

Lillythepink - in your case it was residual interest. Most credit cards need to be cleared off for 2 months before interest ceases.

Jackie47

Many thanks for your replies..I think I have worked it out now, I was having a "senior moment" this morning (added to the downer I have on Barclaycard anyway, I'll be glad to pay off the debt!)

Jackie