Interest

Coco52

Can I ask a question I have a Virgin Credit Card which I got 18 months interest free my 18 months is up because they started charging me interest so I payed it in full at the beginning of the month . I have since used the card again got my statement and they have charged me interest , when I contacted them and asked them why they said because when I payed off my statement they still charge you a daily rate after that , so I asked them when I pay this statement in full will I get charged a daily rate until I get my next statement and they said yes, is thus right I've never heard of anything so ridiculous

[Deleted User]

Once you have paid two statements in full, the interest will stop, if you keep clearing in full each month (unless you take cash).

Coco52

But I also have a barclaycard if I pay that in full I don't get charged interest on my next statement

[Deleted User]

If you clear in full every month, you don't pay any interest.

Coco52

So why are virgin charging me interest when I paid last month in full and they have already added interest to this months statement when I have until the first week of December to pay that's why I questioned it and they tell me it's because they still add a daily rate , ridiculous . Are they allowed to do this if so I will cancel my card with them

[Deleted User]

Because you were previously paying interest. You need to clear two consecutive months in full.

Dobbibill

What date did your 18 month promo end?

What date did you make the payment in full?

What was your last/next statement date?

System

So before the end of a 0% deal you need to make 2 full payments to avoid interest? - transferring a stooze pot the day before won't be enough?

jonesMUFCforever

MatthewAinsworth wrote: »

So before the end of a 0% deal you need to make 2 full payments to avoid interest? - transferring a stooze pot the day before won't be enough?

You need to have cleared funds paid back onto the promotional rate card before THE end of the promo rate.
Waiting for your next statement is too late.
So even if the OP paid the interest free debt off because he waited until the statement he was charged interest.
Trailing interest then kicked in plus because the previous statement was not cleared in time any purchases made would have been charged interest from the date they appear on the statement.

System

Ahhh thankyou, I'll transfer mine a few days before the end of the promo rate just in case their computer systems fluff up. In my case I'll keep that (first) card open to improve my utilisation and history