Capital one purchase interest

spikescot2005

I have just received my cap1 statement and included is purchase interest.
I pay the full balance every month, should I be charged this?

It's my second statement. Also on it is a mystery 50p but doesn't say what it's for.

Thanks in advance.

lisyloo

Could you tell us the statement dates, balances, due dates and payment dates?

I wonder whether you've actually paid early and "missed" a payment during a statement period,.

spikescot2005

No not paid early as first statement was £7.20 and was paid after statement produced. This statement is my second £177 and payment due next month. I have only had 2 statements.

jonesMUFCforever

Have you visited any bingo/gambling sites - where 'purchases' are classed as cash.

lisyloo

Also on it is a mystery 50p but doesn't say what it's for.

You need to call up and find uot what this is for.

TheMoneySavingNovice

lisyloo wrote: »

You need to call up and find uot what this is for.

Ironically spending 50p on the phone call :eek:

spikescot2005

Card not used for gambling only purchases. The 50p isn't on the statement it's the difference between actual statement and their total. But doesn't show on statement. I know it's only 50p but still, it's the purchase interest I'm more worried about.

lisyloo

How have you paid? was it close to he due date?
I'm jsut wondering if you payment didn't "clear" in time.

Only other sugegstion is to ringe them and ask CapOne what it's for.
If you have made a payment that cleared by the due date and there were only purchases then there should be no interest.
Either you've made an odd purchase - credit to a gambling site, foreign currency, voucher or something that doesn't count as cash or the payment wasn't made at the right time OR they have made a mistake.

Did you agree to take their insurance?

spikescot2005

No said I didn't want insurance as was only using it for purchases and paying back when bill produced. Payment was made for the first statement of £7.20 after bill and well in time.

lisyloo

I don't think anyone else here can say as we've tried all possibilities.
You will need to ring them.

Please update us on the mystery :-)

cse

spikescot2005 wrote: »

The 50p isn't on the statement it's the difference between actual statement and their total. But doesn't show on statement

Sorry, can you clarify this bit - where exactly is the 50p figure shown?

If you were being charged purchase interest it would show up as a separate line item, listed alongside all the other transactions, and described as 'purchase interest'

Is it just an 'indicative interest' figure you're looking at or something like that?