Understanding tesco online credit card statement

mighty_hammers

I know your all going to think how can anyone be so stupid. I keep getting charge a penalty on my bill. On your paper bill you pay the closing balance for the period, but online they seem to keep adding things on. for the period ending 5th Aug my final balance was £292.00. so i paid £300. within pleanty of time but i still got charged a late payment even though i paid another £400. on th 25th august. fine was on the 26th. Its hard to work back on statement as they just seem to keep adding continuesly. What am i doing wrong....15mins on hold tesco dont like to ansa phone. im going back to them sending me the bill unless you can tell me why im a D..k head:o

izools

As long as a payment reaches the account, each month, that is above the minimum, and arrives after the statement date and before the due date, you won't get charged.

If you've got late payment fees then the payments aren't hitting the account at the right point in the month.

Paying twice in one payment period won't mean one goes towards the next months bill (i.e. paying early isn't paying early, it's paying one bill, twice).

mighty_hammers

i paid an extra £400. to make sure id paid enough. If the final balance is less than you pay and you pay in time, like i did what am i doing wrong. currently i owe £524.54, if i click to make a payment, it says full balance £392.... so how do i ever know what to pay? If you pay more than the bill it must go towards the next bill

izools

All you need to pay is an amount above the minimum, up to the statement balance, after the statement date, and before the due date, each and every single month. Don't worry that things add to online statements, they will appear on your subsequent paper bill and be added to the balance you pay the following month.

If this isn't helping you fathom it out, you could call Tesco and arrange for the amount to be taken by Direct Debit each month instead?

mighty_hammers

The point is I never pay inteest, it a combined credit and club ard, so i clear it every month. But i cant clear it 'cos I cant work out what i owe. I pay the balance and i get fined for not paying on time. PERIOD ENDING THE 5TH SEPT i paid by 25.8 . full balance 392 and i paid about 700. cos i knew the next bill was going to be high, so how is it still wrong!!

[Deleted User]

You need to post details from your statements. Balances, due dates, dates paid, statement date, if we're going to make sense of this.

mighty_hammers

Yes i'm not too bright. with the help of a calculator i think i've sussed it. The closing balance is in fact NOT the closing balance of what you need to pay to clear you card. It is what you've spent since the last bill. you have to add up the (balance from the previous statement ) add it to the closing balance and hey- presto it's what you owe. Pretty crafty really, when you have it sent to you it cleary shows what you need to pay to clear you card...... My 2011 resolution is not to get caught out again... think of all the bottles of wine i could have bought and Drunk! ( not with one fine, im not that cheap )

[Deleted User]

Glad that's sorted then. I was losing the will to live.

mighty_hammers

I'm not so stupid after all!!!!!! Finally spoke to Tesco and you can not get a statement final bill online, you have to phone up!

splatt30

My tesco statement is made up on the 3rd of every month. On that date I can then download The sratement, this is exactly the same as the one that used to come by post. It is this balance which needs paying by the due date. What you then seen on the online view is the spending since that statment until the next statement date.

Hope that makes sense and is of some help

shop-to-drop

LOL DH and me are both graduates and always struggle with the Tesco credit card statement never had trouble with barclaycard my previous card. What's the point of a few extra clubcard points if you are paying charges and interest so we arranged for the full balance to be taken each month by DD and therefore no problems since though. Must say those if we try to check the statement online to see how much it is going to be we still struggle.:rotfl:

We should change it really as it is not a good way to keep on top of the finances and is even worse if you take advantage of the buy now pay later offers.