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Trouble understanding Santander 123 interest
![[Deleted User]](https://us-noi.v-cdn.net/6031891/uploads/defaultavatar/nFA7H6UNOO0N5.jpg)
[Deleted User]
Posts: 0 Newbie
in Credit cards
Good morning,
I am struggling to understand when interest applied to my Santander account is applicable for.
It was my understanding that interest on my Nov statement would be applicable if the total payments on the November statement were less than the outstanding balance from the October statement.
Is this correct?
I am struggling to understand when interest applied to my Santander account is applicable for.
It was my understanding that interest on my Nov statement would be applicable if the total payments on the November statement were less than the outstanding balance from the October statement.
Is this correct?
0
Comments
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Interest is charged if you don't clear the entire balance of the receding statement by the due date. To avoid interest you also need to have cleared the previous statement in full as well.0
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you need to clear the statement balance on two consecutive statements to be interest free0
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No. You'll pay interest for Feb and then for March even if you clear in full in April.0
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