Being charged interest even though it's supposed to be 0%

Neoshoegal

I've got a GE money CC. Had it since August and it's supposed to have a 12 months 0% interest on both balance transfers and purchases,

I've just noticed on this months statement I'm being charged interest of 1.02% on the balance transfer (it also happened last month, but I didn't look it at carefully then). How did that happen?
The interest charge for "retail" is still at 0%
I'm really annoyed that I'm being charged interest. It's costing me £18.48 on a balance of just over £1900

The first month I did incure a late payment charge of £15. I had done bank transfer but it didn't go through for some mysterious reason :mad:

**purplemoon**

I might be wrong, but I think that if you miss a payment you lose the right to the 0% deal and they start charging you interest as normal. Someone else more knowledgeable will hopefully confirm though.

Whilst on the subject though, I noticed on my Egg statement this morning that I have been charged £0.50 interest, and it also states that if I pay min payment this month then I will be charged interest again next month. This is also on a 0% BT debt :mad:

Why are they charging this interest?

YorkshireBoy

**purplemoon** wrote:

Why are they charging this interest?

http://forums.moneysavingexpert.com/showthread.html?t=309821

immoral_angeluk

I always thought most cards offered just 0% on new purchases..

Neoshoegal

immoral_angeluk wrote:

I always thought most cards offered just 0% on new purchases..

this one definately had 0% on both:
http://www.gemoney.co.uk/en/credit_card/index.html

Neoshoegal

Just been on the phone to them. I was afraid I'd lost the 0% due to that 1 late payment.
Luckily for me it's a fault on their system and the lady kindly told me it would be refunded and that the 0% is still place!
:j

King_Of_Fools

immoral_angeluk wrote:

I always thought most cards offered just 0% on new purchases..

You are confusing a 0% deal over a period of months (as the OP had) with the standard 0% period of up to 56 days if you pay the bill off in full.