Tesco CC interest question

skea56

Have just received this months statement, and I have some questions about interest.

This month's interest is £8.50, on a balance of £270.
I spent £194 and paid off £260.

On looking back at last month's statement, I was not charged any interest, strange, but must be then 2 months interest added together?

Previous interest was only £1.26 on a similar amount.

Am aware that I'm due to pay interest, but just wonder about the big differences in amounts from month to month.

sk56

CLAPTON

interest accrues from the date you actually made the purchase to the date you actually pay it off
however if you pay in full each and every month then the interest is not charged

so lets take an example

suppose you have a zero balance

you spend 300 on 10th Jan
you receive a statement dated 20th jan showing the balance of 300
it will show no interest

you make a partial payment of 100 on the 5th feb

you then receive your next statement dated 20 feb
on this statement will charge interest on 100 from 10th Jan to 5th feb
and interest on 200 from 10th Jan to 20th feb

even if you pay the new balance in full you will be charged interest the following month from the statement date (20thfeb) to the date you pay in full