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Santander 123 credit card "interest"

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Comments

  • bsms1147
    bsms1147 Posts: 2,291 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    If you pay off in full the interest is waived
  • dzug1
    dzug1 Posts: 13,535 Forumite
    10,000 Posts Combo Breaker
    Most cards tell you the estimated interest you will pay if you only make the minimum payment


    If you pay the full amount you can ignore this figure
  • bsms1147
    bsms1147 Posts: 2,291 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    dzug1 wrote: »
    Most cards tell you the estimated interest you will pay if you only make the minimum payment
    Not strictly true. Unless you pay the full balance the interest will be the same, whether you pay the minimum or 1p under full balance.
  • AISA86
    AISA86 Posts: 2 Newbie
    dzug1 wrote: »
    Most cards tell you the estimated interest you will pay if you only make the minimum payment


    If you pay the full amount you can ignore this figure
    bsms1147 wrote: »
    Not strictly true. Unless you pay the full balance the interest will be the same, whether you pay the minimum or 1p under full balance.

    Ah, I see. Thanks a lot fellas. That makes much more sense. In my panic, I quickly made a debit card payment hoping to avoid any charges! Haha, never mind.

    Thanks again.
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