Spurious double charging of interest on Cahoot CC statement.

fat-pudding

Hi all,

I've recently paid a chunk off my Cahoot card and am using it again and clearing as much balance as possible every month. The card is never over limit and never had a late payment, the interest rate is the same as it always has been at 13.95%. I've not used it for any cash advance, currently the balance at statement date this month is about £1700.

This month I went to check the statement and listed there are 2 charges for interest, they are listed as

30 Mar 2013 Purchases Interest Charge £13.42
30 Mar 2013 PURCHASE INTEREST £22.07

I've never been charged for interest twice, and the balance on the card is lower now than any time in the past year yet the interest charge is way higher than any interest charge in the previous year, so too have the 2 amounts listed is way higher than I'd expect.

I'm wondering if the second one is a possible fraudulent transaction that someone has put through with something that sounds like interest to try and get it under the radar as all purchases on the statement appear in all caps, but the odd thing about this is that the estimated interest next month is -£0.22 so a negative amount of interest even if I pay the minimum amount?

I've raised this with Cahoot via a secure message as it's so odd but I'm a bit worried about a potential fraudulent transaction, especially as I'm travelling for work at the end of the week and was going to use my Cahoot card abroad so I don't want them to cancel it and don't want to have to wait for the response until next week.

Have I missed something obvious here that might explain this double charging of interest and the discrepancy over previous months?

Gurranes

You have done the right thing to get them to explain.

I can only say that as the two interests are both dated 30th Mar I would strongly think it would not be Fraud. It would be very lucky of a fraudster to time things exactly right to hit when your bill was prepared.

Other guess would be that they have messed up your interest in previous months and are putting an adjustment through, but I would have thought (maybe niavely) that you would have been told before hand.

You said you have nothing on any other rate (cash, Balance transfers) so that's out, and big puzzle on the negative interest on next month. - Smells of system !!!! up

fat-pudding

OK so Cahoot have replied already (which I'm impressed with given it's a bank holiday!) and apparently it's an internal interest calculation that shouldn't ever appear on the statement. The strange thing is that they say it doesn't affect the balance, but it certainly did last night, but now it doesn't this morning so I guess they've maybe put on a manual correction.