Interest on card...not expected

dazzaofdagenham

The extra spending of 350 was for a unexptected breakdown of fridge freezer...so wasn!!!8217;t really plann8 g on us8ng card to that extent

eskbanker

daveyjp wrote: »

Don't drip feed payments to a credit card bill as they operate around statement dates, not a rolling balance.

The first payment was probably treated as the payment for that month against the statement balance, so that month's statement activity is effectively 'closed'.

Any other payments made, even before the due date, will reduce your account balance for the NEXT statement date. Interest will therefore be due as the original amount due wasn't paid in full in one payment.

Save the money somewhere else. Wait for statement, pay in full before due date. Don't treat it like a bank account as you will quickly come unstuck.

I've always been under the impression that full settlement of statemented balance any time between statement date and due date negates interest, regardless of whether it's in one payment or multiples, and have never heard of a statement being 'closed' after a partial first payment if a subsequent payment is enough to settle the full balance before the due date. It's often recommended on here for people to use a DD to pay off the minimum and to make manual payments over and above this, but it would be a waste of time suggesting that if only the first payment counted.... Do you have specific examples of cards that work the way you say?

dazzaofdagenham wrote: »

I think that’s what was just explained to me on the phone.

Which card do you have and do the Ts & Cs make any reference to the multiple payment treatment that daveyjp refers to?

Ben8282

eskbanker wrote: »

I've always been under the impression that full settlement of statemented balance any time between statement date and due date negates interest, regardless of whether it's in one payment or multiples, and have never heard of a statement being 'closed' after a partial first payment if a subsequent payment is enough to settle the full balance before the due date. It's often recommended on here for people to use a DD to pay off the minimum and to make manual payments over and above this, but it would be a waste of time suggesting that if only the first payment counted.... Do you have specific examples of cards that work the way you say?

I agree. What has been written above is nonsense. Furthermore, spending after the statement date cannot affect the current statement in any way.
To return to the original problem. unfortunately the OP appears reluctant to post specifics with regard to dates and amounts.
According to the OP:
Statement Month 1 - Balance 0, (presumably no payment made?)
Statement Month 2 - Balance 150.01 - £175 paid in several payments
Assuming that at least £150,01 was paid before the payment due date, no interest would have been charged.
The allocation of the payments would have been £150.01 to the previous statement balance, £24.99 to the unstatemented transactions debited to the account after the statement date
The most obvious answer is that the full amount of £150.01 was not received by the statement date OR that there were cash transactions involved somewhere.
Quite why the OP found it necessary to make several payments or pay off unstatemented purchase transactions is unclear.
Just to make things clearer could the OP please confirm that a total of £175 of payments actually appear on the Month 3 statement and that the dates on which at least £150.01 of these payments were applied to the account are dates on or after the date of the Month 2 statement and on or before the payment due date for that statement.
Another possibility is that one or more of these payments could have been made using a payment method which does not result in the payment being immediately applied to the account. A payment made by faster payment on the due date would normally be OK but a debit card payment made on the due date may not have been processed and applied to the account as cleared funds until after the payment due date.
My final question is what was the actual balance of the Month 3 statement? The answer should be £325.01 + whatever the amount of interest was.

Dobbibill

The only other question to add OP - is it a TSB Advance CC?

If you have paid all balance due by the due date - rather than by the next statement date then you should not have paid interest.....unless it was the card above.

dazzaofdagenham

Dobbibill wrote: »

The only other question to add OP - is it a TSB Advance CC?

If you have paid all balance due by the due date - rather than by the next statement date then you should not have paid interest.....unless it was the card above.

No not one of those cards

Merlin139

This could be solved so easily if the OP gave all of the information!

Post the details of the statements with the dates and amounts of all the transactions and then everyone who is offering advice will be able to make a correct assessment of the situation and explain what has happened!

Its not as if its a matter of national security!

I start to question why the OP has not given all the information?

bengal-stripe

Ben8282 wrote: »

.......unfortunately the OP appears reluctant to post specifics with regard to dates and amounts.

Obviously, the OP likes us to play guessing games.

Statement 1:
Date of statement: xx/xx/xxxx
Balance £150.01
Payment due date: xx/xx/xxxx

Statement 2 (approximately 1 month after Statement 1) will list all spends and all monies credited with the exact date they were debited/credited to the account. What payments were booked between Statement 1 date and Payment due date?

The answer should be a simple list of all the payments received between those two dates, but the OP refuses to give those.

dazzaofdagenham

bengal-stripe wrote: »

Obviously, the OP likes us to play guessing games.

Statement 1:
Date of statement: xx/xx/xxxx
Balance £150.01
Payment due date: xx/xx/xxxx

Statement 2 (approximately 1 month after Statement 1) will list all spends and all monies credited with the exact date they were debited/credited to the account. What payments were booked between Statement 1 date and Payment due date?

The answer should be a simple list of all the payments received between those two dates, but the OP refuses to give those.

Not refusing at all.

Trying to compile now