Due Date/Interest

VulcanXH558

Hi - First time user but big Martin Lewis fan.

I have a Nationwide Credit Card and recently came into some cash, so decided to pay off the balance.
The statement date was 21st May, with a balance of aprox 4k
The Due date was 15th June

The cash was credited, in full, on 14th June so I expected no interest on my June statement, but I have been charged £44

Have I misunderstood all these years ? By Paying off, IN FULL (That's Martin Shouting lol) before the due date, should it not cancel the interest ?

Sorry if its a stupid question !!

biscit

I think if you pay off in full purchases made since the April statement, then there is no interest on those purchases. But if you had a balance carried over from April that wasn't paid off, then you will have interest to pay.

If you pay off your June statement balance in full and on time there will be no interest due.

[Deleted User]

Yup - you need to pay the trailing interest from your May statement until the 14th June.

CLAPTON

basic rule is you need to pay in full for two consecutive months before interest stops.

VulcanXH558

OK that makes sense now, why can't Nationwide explain it like that !!??
Thanks again