Interest charges for purchasing on top of 0% balance transfer even when paid off!!!!

melanie711

I have a barclaycard and in December I did a 6 month 0% balance transfer. We use this card as our regular card and pay off the balance every month to avoid interest payments. So in December I received my statement and paid the difference between the 0% balance transfer and the statement balance, I also did this approx 3 weeks before the due date. I have just received this months statement and have been charged interest on the purchase amount despite paying it off. I don't think this is correct but barclaycard have inform me that this is in the terms & conditions of the balance transfer. Is this right???

Tixy

Yes it is correct.

Credit cards only waiver the interest on purchases if you pay off the whole balance in full each month (not just the purchases balance).

It is best to keep balance transfers on a different card to any new/regular spending for this reason.

Candles_by_Lisa

I fell for that one too. I have an Asda credit card and I did the very same thing I use it regularly and clear off the purchases in full each month. Took out a balance transfer that was offered interest free. Lo and behold the next month I got charged interest. I was told that I will be charged interest on any purchases I make unless I clear the balance transfer. It doesn't matter that I clear off ALL the purchases I have made within the month and pay a portion of the balance transfer unless the balance transfer is paid off I will get charged interest. I told them this was very unclear in their terms and conditions but they aren't for budging so I assume Barclaycard are the same.

YorkshireBoy

Your purchases are only 'up to 56 days interest free' if you pay your bill in full. You haven't done that so that's why you've been charged interest.


All card operate this way, which is why it's advised never to mix purchases and BTs on the same card.


I believe you can minimise this interest by paying the purchases balance (plus a little extra) immediately your statement has been produced. Note: when it's produced, not when it's delivered by post, so online access would be required. Do you have it?

opinions4u

Excessive exclamation marks usually indicates failing to understand the terms and conditions, or having made assumptions without checking.

grumbler

So do excessive question marks...

forgotmyname

One of Martins tips for using an interest free card. NEVER spend on it.

chattychappy

It CAN be worth putting spend onto a BT card, it depends what other debt you have and what interest rates you are paying.

If you're not paying interest elsewhere, then better not to mix. Keep purchases on a separate card.