Finance charges

DenJo

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?

Fruit_and_Nut_Case

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.

[Deleted User]

DenJo wrote: »

Am I being charged for keeping my credit card under control?

No. My guess is you're being charged interest.

planteria

did you use your credit card to withdraw cash from an ATM?

grumbler

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.