Credit Card Interest

starkmms

HI

Perhaps I've missed something here. (Tesco Credit Card)

Last month I made a booboo and failed to pay off about £6 of my balance. This month the Interest payment has been calculated on all of the purchases made since last month and not just the amount that was not paid off.

Is this normal?

regards
Stuart

CLAPTON

interest is calculated on a daily basis from the time you make the purchase to the time to actually pay the debt off

however, if you pay in full each and every month then they don't charge the interest

unfortunately you didn't pay in full so you were charged as above

you may well have a little bit more interest next month as there will be a detail between the statement date and you actually paying.

you need to pay in full for two consecutive months to stop further interest

all credit cards work this way

maybe consider setting up a DD for the full amount