Why have I been charged interest!?

u2o

Hi all -

just wondering if anyone could help. i have a student natwest credit card and i've been using it sensibly to purchase things and repaying the amount in full each month.

today i logged on to my online account and there's a charge of interest £0.69? My august statement (dated 07/08) of £25odd was paid off in full (minimum payment by direct debit on 03/09 and the rest on 16/08) as were all previous months. any idea why i've been charged??? this month i've been using the card more with a balance of £350odd but am due to pay it off when the statement comes. any insight into possibilities would be great!

LittleVoice

Are you sure your payment reached them by the due date?

Are you sure you have been charged interest or is 69p the estimate of what you would be charged if you paid only the minimum payment?

Have you used the card to withdraw cash?

Have you bought gift vouchers?

Have you used the card for online gambling?

YorkshireBoy

Have you bought anything from CDWow?

http://forums.moneysavingexpert.com/showthread.html?t=521197

u2o

LittleVoice wrote: »

Have you used the card for online gambling?

ah! can you elaborate on this?? is the interest charged on this? i didnt know im guessing it counts as 'cash advances' without handling fee?

dzug

u2o wrote: »

ah! can you elaborate on this?? is the interest charged on this? i didnt know

On line gambling transactions are for legal reasons treated as cash advances.

Basically they don't want to lend you money for gambling (coz gambling debts are not legally enforceable) but they can lend you cash......

u2o

dzug wrote: »

On line gambling transactions are for legal reasons treated as cash advances.

Basically they don't want to lend you money for gambling (coz gambling debts are not legally enforceable) but they can lend you cash......

cheers! that was my first time on online gambling (and probably last, was just a bit of fun with leftover cash) so didnt realise! never mind. arranged to have it paid off in full now

sicker

Well done u2o, hope you change 'probably to definitely'.

John

u2o

sicker wrote: »

Well done u2o, hope you change 'probably to definitely'.

John

yeah 'definately' is more accurate word!

i thought it'd be a good idea to see what it's like whilst i had money (i did well financially during my year at uni so had quite a lot left over more than forecasted) instead of resulting to it when/if i'm skint! and that was a valuable lesson - all the money gone so quickly!