Help with Tesco Visa Card

homeworker

I had a balance on my tesco visa card of £2269.00 I had paid £2154.00. Leaving a balance of £115. This was only because I didn't know what the balance was at the time of paying. I then received my statment showing that I was charged interest of £58 but on the bottom of my statment is said that if I don,t pay that amount my estimated interest will be £48.

I don't understand the logic in this. If I have paid most of it so why was i charged the interest! Can they get away with this. I have threatened to close my visa card and refuse to buy anything in tesco but they turned around and said well if you would like to close your account go ahead!!

I am angry and fustrated with visa companies who can get away with charging this amount for paying the amount off.

There service is appalling and downright rude!

Bossyboots

If you read the terms and conditions carefully, you will find that if you do not pay off the whole balance you will be charged interest on the average outstanding balance throughout the period from the transaction dates of your purchases, not the outstanding balance.

In addition, because you have not paid the full balance you have now lost the interest free period for the next month and will incur interest on all purchase made in that time. You can only restore the interest free period by paying off your account in full on two consecutive months.

If you sign up to their online system, you can view your balances and statement amounts online so never have to guess if for some reason your paper statement doesn't arrive.

homeworker

Are all credit cards like this. I think its criminal that credit cards can operate like this.

Bossyboots

homeworker wrote: »

Are all credit cards like this. I think its criminal that credit cards can operate like this.

More and more of them seem to be doing the same thing now.

jamalfatty

homeworker wrote: »

Are all credit cards like this. I think its criminal that credit cards can operate like this.

What, charge you interest on money you have borrowed? Should they lend you the money for no cost whatsoever?