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Finance charges

DenJo
DenJo Posts: 1 Newbie
in Credit cards
Can someone please explain to me why I've got a purchase finance charge and a cash finance charge on my latest credit card statement when I have just paid in over £400! Am I being charged for keeping my credit card under control?

Comments

  • Fruit_and_Nut_Case
    Fruit_and_Nut_Case Posts: 4,617 Forumite
    Mortgage-free Glee!
    DenJo wrote: »
    Can someone please explain to me why I've got a purchase finance charge and a cash finance charge on my latest credit card statement when I have just paid in over £400! Am I being charged for keeping my credit card under control?
    Welcome to MSE :wave:

    Unless you give more details it is impossible to say with any certainty.
    Are you for real? - Glass Half Empty??
    :coffee:
  • [Deleted User]
    [Deleted User] Posts: 35,383 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    DenJo wrote: »
    Am I being charged for keeping my credit card under control?

    No. My guess is you're being charged interest.
  • planteria
    planteria Posts: 5,322 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    did you use your credit card to withdraw cash from an ATM?
  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 21 February 2014 at 10:18AM
    DenJo wrote: »
    Can someone please explain to me why I've got a purchase finance charge and a cash finance charge on my latest credit card statement when I have just paid in over £400!
    I can't... And I don't know how long a piece of string is.
    £400 is a lot if the previous balance was £300.
    £400 is very little if the balance was £3000.


    A "cash finance charge" indicates that the card was used for cash withdrawals. Even if you pay the balance in full, only interest on purchases gets waived.
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