Help with credit card statement

DJRogers88

Hi there,

I have a credit card which is payed off each month by direct debit so I don't pay any interest. However this month I have made some big purchases and sent money to the card before the payment date (and also payed up on the direct debit date) and I was surprised to login to my account and find a (although very small) interest of 9pence. I have put the statement below, from bottom to top are the payments in and out - wonder if anyone can tell me why this could have happened so I don't make this mistake in future?

Thanks in advance,

27 Mar 12 INTEREST 0.09

Mar 12 10.27 CREDIT

Mar 12 30.00

Mar 12 407.62

Mar 12 102.81 CREDIT (DIRECT DEBIT LAST MONTHS AMOUNT)

Mar 12 10.63 CREDIT

Mar 12 5.00

Mar 12 10.00

Mar 12 40.00 CREDIT

Mar 12 31.03

Mar 12 10.00

Mar 12 431.00 CREDIT

Mar 12 11.69 CREDIT

Mar 12 16.99

Mar 12 27.20

Feb 12 386.25
Feb 12 22.67

Tixy

Last months statement was paid in full before the due date?

Did you put any transactions on there that might be classed as gambling transactions? any cash withdrawals?

DJRogers88

Aaah! Was totally unaware that gambling transactions were classed as cash! (there's me thinking I was cash savvy!!) Yes I had a bet on Cheltenham races this month so around £30 on gambling. Can I expect more interest next month then because of this?

Tixy

Yes it will be charged until that transaction is repaid.

The sooner you pay, the less interest they will charge, and any payment you make now will be allocated against that first. So you could pay it off now to minimise the interest (although it will only be a few pence anyway from the sound of it).

DJRogers88

Tixy wrote: »

Yes it will be charged until that transaction is repaid.

The sooner you pay, the less interest they will charge, and any payment you make now will be allocated against that first. So you could pay it off now to minimise the interest (although it will only be a few pence anyway from the sound of it).

Great, thanks for this.