Asda credit card

samtastic7

So I have been using an Asda credit card as it gives cash back,
Last month I never pad the full balance I left a small amount owing. I was shocked at the interest they charged so I rang up
Basically if you spend £1000 and pay £900 well before the payment due date leaving £100 owing.
You are charged interested on the full amount you spent not the remaining balance !!
I'm sure credit cards haven't always worked like that.
:mad

[Deleted User]

They all work like that.

Interest is only waived if you clear in full each month. If you don't, then you pay interest on a daily basis for the amount you borrow.

stevenhp1987

Credit cards have always worked like that.

If you don't pay your whole balance by the due date you pay interest on everything until they were paid.

Therefore you would have paid interest on the £900 up to it was paid (which in most cases is only a week or so before the statement date). Some of those transactions could be around 50 days old!

Dobbibill

As a warning for when you pay off the remaining balance, you will also have trailing interest the following month so don't let that alarm you either.

Maleficent

Yes unfortunately that is how credit cards work, even if the balance left was say 20p you'll get charged on the full balance owed

Ring the card provider and query, I know if it were one of my customers and they weren't aware of this then I would happily look into crediting the interest back.