We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Can NatWest do this?
PaydayNightmare
Posts: 3 Newbie
in Credit cards
On 23 Feb my credit card is at £566.05, which is over my credit limit of £500.
I paid £76.05 which was processed almost immediately on Faster Payments. This brings my balance to £490 and within my limit.
Later, NatWest charge £9.58 interest, and slap a £12 overlimit fee on top of it, bringing me back over my limit at £511.58 :mad:
Is this right? Are they allowed to process interest before payments, even if the payment was made first?
I paid £76.05 which was processed almost immediately on Faster Payments. This brings my balance to £490 and within my limit.
Later, NatWest charge £9.58 interest, and slap a £12 overlimit fee on top of it, bringing me back over my limit at £511.58 :mad:
Is this right? Are they allowed to process interest before payments, even if the payment was made first?
0
Comments
-
Yes, assuming that coincidentally this was the monthly statement date0
-
No, the statement date was 17 Feb and they'd already charged the £12.00 late fee, which my payment of £76.05 included.
See i.imgur.com/i3zSS.png0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 349K Banking & Borrowing
- 252.4K Reduce Debt & Boost Income
- 452.7K Spending & Discounts
- 241.9K Work, Benefits & Business
- 618.5K Mortgages, Homes & Bills
- 176.1K Life & Family
- 254.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards