Credit card statement help

Jen27

Hiya. Glancing over my bank statement this morning I noticed that I had £500 outstanding balance on balance transfer which I have been paying interest on. I might be being thick but how have I got this outstanding. Never noticed it before and is this debt on top of my balance? Any help would be greatly appreciated.

Tixy

Have you ever done a balance transfer on this credit card account as far as you are aware?

Have you checked back on previous statements to see when the transaction appeared on the statements originally?

The amount will be included in any total balance on the statement.

Jen27

Yes I have was two years ago. Have since used the card again. So why did I get this charge? Thank you.

Tixy

Did you completely repay that balance transfer? Its really impossible for anyone here to answer what has happened as we cannot see the whole history of your spending and repayments on the account.

You need to read through all your statements to see whether you ever did pay the balance transfer off in full. Or whether any other balance transfers were added on to your statements since then. Once you know that you can assess whether you think it is accurate or if not you would then be able query it with your credit card company.

Jen27

Ok thank you. Will make a trip to my local branch.

InsideInsurance

Were you thinking the minimum payment would pay off the transferred balance within the interest free period?

Jen27

No my husband cleared my credit card two years ago using a balance transfer. All amount was off but since we have had to use it. It def says outstanding balance on balance transfer.

InsideInsurance

So look back to the statements to ensure that it was indeed cleared.

Alternatively call them and ask them to explain whats going on

OhReally_2

Jen27 wrote: »

Hiya. Glancing over my bank statement this morning I noticed that I had £500 outstanding balance on balance transfer which I have been paying interest on. I might be being thick but how have I got this outstanding. Never noticed it before and is this debt on top of my balance? Any help would be greatly appreciated.

I'm sorry, but if you don't know how you have an ourtstanding balance, I certainly don't.

Essentially it's because you have boroowed money and not paid it back (with charges as applicable) ... but that's obvious.

Get all your past statements and post them here. It's the only way anyone here can really help you.
Or take them to the CAB and they will help you understand.