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charged interest even if repaid in full???
martinogorman
Posts: 1 Newbie
in Credit cards
The Halifax clarity credit card on MoneySavingExpert has the followingcondition
The Halifax Clarity* credit card has no foreign exchange fee anywhere in the world Plus there's no fee for cash withdrawals, though you will be charged interest on them even if repaid in full.
I am not sure what this "repaid in full" means.
Lets say I have 100 on the card and I withdraw it from an ATM, do I get charged interest. How much? Why
Lets say I don't have money on the card and make an ATM withdrawal but I pay off the balance a week later then do I get charged interest for a week or what?
thanks
Martin
The Halifax Clarity* credit card has no foreign exchange fee anywhere in the world Plus there's no fee for cash withdrawals, though you will be charged interest on them even if repaid in full.
I am not sure what this "repaid in full" means.
Lets say I have 100 on the card and I withdraw it from an ATM, do I get charged interest. How much? Why
Lets say I don't have money on the card and make an ATM withdrawal but I pay off the balance a week later then do I get charged interest for a week or what?
thanks
Martin
0
Comments
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You get charged on the daily balance on a daily basis.0
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Virtually all CCs charge interest on cash withdrawals (anywhwere in the world) on a daily basis even if the statement balance is repaid in full and on time.
Whilst the small percentage fee charged to retailers for purchases more than covers the cost of allowing the cardholder several weeks before paying for them; the credit card company has to pay the bank whose ATM you used for a cash withdrawal in full, so they'd be out of pocket if they allowed the cardholder time before charging interest.We need the earth for food, water, and shelter.
The earth needs us for nothing.
The earth does not belong to us.
We belong to the Earth0 -
Most credit cards give you an interest free period (up to around 56 days) for purchases if, and only if, you pay the whole balance off every month.martinogorman wrote: »The Halifax clarity credit card on MoneySavingExpert has the followingcondition
The Halifax Clarity* credit card has no foreign exchange fee anywhere in the world Plus there's no fee for cash withdrawals, though you will be charged interest on them even if repaid in full.
I am not sure what this "repaid in full" means.
All that clause is saying is that the interest free period doesn't apply to cash withdrawals.Lets say I don't have money on the card and make an ATM withdrawal but I pay off the balance a week later then do I get charged interest for a week or what?
You'll be charged a week's worth of interest.Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0
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