interest charges

toshmoo

hi can anyone help just paid off my egg card balance which i got from egg internet site way before payment was due and asked to cancel card just been informed by email that interest still owing due to time between payment clearing is this legal can i get out of paying as i feel like it is a rip off as i have paid in full now they want another £14 off me anyone else had this problem thanks

tom188

Did you pay off the balance the previous month? If not then you will be paying interest on this still.

You only dont pay interest if you have only made purchases over the latest statement period and cleared the card the previous month.

This is clearly stated in the terms and conditions and as an interest charge would not be refundable using the standard arguments on legality.

Astaroth

The statement you receive is a snapshot in time. From the second that statement is sent to the second they receive the payment interest will continue to be charged on the balance.

Bokken_2

Pay the £14 pound. as explained below by tom188.
If you refuse or forget it will affect your credit rating and harm any future applications for a card or other credit.
welcome to MSE.

King_Of_Fools

Yes you have to pay it and it will now be more than £14 due to compound interest!