Interest Charge Question on Debit then Credit

info_addict

Hi,

I recently made a purchase of two goods on an old credit card, whilst waiting for my new M&S card with 15 months of 0% on purchases, to arrive (which it now has).

The total purchases came to £550 and this in on my statement for payment in July. I always pay off this old credit card in full to avoid interest charges.

However, I had to return one of the goods and received a refund of £150, which is showing on my next statement as a credit balance.

My question is - do I have to pay off the full £550 in July to avoid interest charges and then spend on this old card to use up the credit? Or do I pay off £400 in July and then the balance will reduce to zero?

I'm thinking that if I only pay off £400 then I will be charged interest on the £150 and my next statement will show a balance brought forward of minus £150 and the credit of £150, reducing that months statement to zero.

Just looking for clarification, thanks

lisyloo

On the cards I've had before any refunds would be taken into account, so you could just pay £400.
But to be sure you need to call the compant ro check.

info_addict

Thanks. Just to confirm I've spoken to my bank and they confirm all I have to do is pay off the £400 and no interest will be charged.

Maybe i should have rung them first!