Tesco credit card interest rate query

nextyeartina

I'm just looking at september's statement for my tesco credit card. Last month was the end of the interest free period. It says on the statement that if i make the minimum payment of £53 this month, that the estimated interest payment for next month will be £43.96. Does this mean my inerest alone next month will be £43.96, plus my minimum payment on top?? Any help greatly appreciated. Fankoo

t, x

Cash_Flow

nextyeartina wrote: »

I'm just looking at september's statement for my tesco credit card. Last month was the end of the interest free period. It says on the statement that if i make the minimum payment of £53 this month, that the estimated interest payment for next month will be £43.96. Does this mean my inerest alone next month will be £43.96, plus my minimum payment on top?? Any help greatly appreciated. Fankoo

t, x

You need to may a minimum of £53.00.

Your estimated interest of £43.96 will be added to the next statement balance.

CLAPTON

it says that if you only make the minimum payment this month and make no further purchases then next month the interest will be 43.96

the minimum payment next month will depend upon the way they calculate minimum payments : I believe they charge interest plus £10 or 2% of the total which ever is the greater