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When should interest appear?

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Credit card nube, sorry.

At what point should I expect interest to appear on my balance if it's not paid off by the statement date? My statement period ended last week but no interest has been added to the balance since then.

Curious to know when I should expect it...

thanks
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  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
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    had you previously paid in full?
    or is this the first bill?
  • Consumerist
    Consumerist Posts: 6,310 Forumite
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    edited 12 January 2011 at 12:07AM
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    Interest will be added to your next statement if there is any to pay.

    Edit
    Payments must be paid before the due date, normally around 20 days after the statement date.
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • crayola
    crayola Posts: 203 Forumite
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    CLAPTON wrote: »
    had you previously paid in full?
    or is this the first bill?

    I've had it since the start of December so yes I guess this is the first bill.
  • crayola
    crayola Posts: 203 Forumite
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    Interest will be added to your next statement if there is any to pay.

    Edit
    Payments have be paid before the due date, normally around 20 days after the statement date.

    Thanks...so in this case I made some payments before that date, but not the full balance, so as it stands will have to pay interest. Will that not be calculated till next month then?
  • Consumerist
    Consumerist Posts: 6,310 Forumite
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    crayola wrote: »
    ...so in this case I made some payments before that date, but not the full balance, so as it stands will have to pay interest. Will that not be calculated till next month then?

    If you made a payment before the statement date then it will appear as such on your next statement and will reduce the statement balance. You will then have until the due date to pay off the balance indicated on the statement if you want to avoid interest charges.

    Hope I have understood your question correctly.
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • crayola
    crayola Posts: 203 Forumite
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    Hope I have understood your question correctly.

    hi again. I think I possibly phrased it wrongly. What I meant to say was that the DUE date has now passed, I have paid off some of the balance but not all of it. I think I was expecting the interest to be on my statement by now, but it isn't there.

    I get mightily confused between due date and statement date! But what I meant to ask was how long after the due date should you expect any interest to appear on the statement. Sorry for the confusion...
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
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    crayola wrote: »
    I've had it since the start of December so yes I guess this is the first bill.


    it works this way

    because if you pay in full there is no interest, they don't show the interest on your balance as they don't know whether or not your will pay in full.

    if you pay in full then there is no interest

    however if you don't pay in full you pay interest from the day you borrow to the day you pay in full
    which can be a little confusing

    so pay IN FULL each and every month
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
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    crayola wrote: »
    hi again. I think I possibly phrased it wrongly. What I meant to say was that the DUE date has now passed, I have paid off some of the balance but not all of it. I think I was expecting the interest to be on my statement by now, but it isn't there.

    I get mightily confused between due date and statement date! But what I meant to ask was how long after the due date should you expect any interest to appear on the statement. Sorry for the confusion...


    too confusing

    just quote the full facts ... dates, balances, payments etc
  • crayola
    crayola Posts: 203 Forumite
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    CLAPTON wrote: »
    too confusing

    just quote the full facts ... dates, balances, payments etc

    Glad it's not just me who's confused!

    OK so I've run up a bill of, let's say for sake of argument, £100.

    I pay off 50, leaving a balance of £50 before the due date.

    due date passes.

    When should I expect to see the interest appear on the account, assuming in this instance that I don't simply pay the remaining £50 now?
  • Consumerist
    Consumerist Posts: 6,310 Forumite
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    Simply stated. if you do not pay off your full balance by the due date then interest will be charged on the next statement.

    Edit
    The statement tells you what you owe and the date by which your minimum payment should be made (the due date)
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
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