Closing a credit card account

FlySi

Hi all

Quick question on behalf of my folks (again!) They recently decided to pay off some outstanding loans and credit cards. When my father received his statement last month with from Marbles, it had an account balance on it. He duly paid this in full. This morning he opened the latest statement to see that the balance had been paid but £60 in interest had accrued between the previous statement date and the payment clearing. And then the argument started... I said that he should have contacted the company and advised them that a) he was paying it off and b) he was closing it. Any amount outstanding could have been updated over the phone and there would be a zero balance on the account. My father says no, having settled the amount, that should be it and he should not be charged interest.

Could somebody please advise on this? I know for a fact that there are two more credit cards statements to be come that have been paid off and I can say with some certainty that he has done the same thing.

Thanks all.

david39

He is being charged interest for the period from the date that the last statement was raised until they received his payment. He was still borrowing a proportion of the capital between those dates.

When they receive his £60 this time that will be the end of the matter as long as it is paid by the due date.