Cash Transfer: is interest incurred on remaining balance if paid in full

JimmyTheWig

demonted wrote: »

A few years ago; I made a CC transaction for roughly £600 and I adjusted my repayment to clear this debt over 2 months, however I was charged interest on the full £600 during the second month although only £300 was still outstanding...... I guess this was " Trailing Interest" ?

This may have had trailing interest.
As you didn't pay off in full each month you don't get the interest free period you normally get. So you'd be charged interest on £600 from when the purchase was made until the part payment was made, then interest on £300 until the full payment was made, plus interest on the last interest.

When the 0% period ends on my Cash Tranfer and I only incur interest on any outstanding balance, then thats ok.

I just don't want to fall into a trap and end up incurring interest on the original sum transfered (£6000) because it wasn't cleared within the 0% period.

You will pay interest on the daily balance from the time the 0% ends until it is paid in full.