Barclaycard Platinum Travel - Huge APR if you don't pay it in full?

Plutonomics

Hi all,

I have had my Barclays credit card a while now and previously never had any issues. I have spent money and withdrawn cash in Prague and Moscow, paying no fees or interest as I paid the balance in full.
However, last month I spent £1,538.40 in Valencia and instead of paying the full balance, I paid off £1,238.40. The bill was due on 4th June and I paid the amount by 22nd May. This left a balance of £300, my thinking being I would take the interest hit on the remaining £300 at approx 20% APR or similar, around £5 or whatever their minimum charge is (e.g. 20% of £300 is £60, divided by 12). I was surprised to see my interest on this £300 come out at £27.18, if my sums are correct then isn't this about 108.7% APR? Maybe I am doing my sums wrong and this is actually how it works. I am hoping one of you more knowledgeable fine people can explain to me where I went wrong. Going forward I will pay in full, however I was expecting some Tax Free money to come back to my card, so left the balance as I wanted to make sure the card didn't go in to credit, I won't make that mistake again!

Ben8282

Interest will not be charged if the card is paid IN FULL by the due date.
You will therefore have been charged interest on the FULL AMOUNT from the date of transaction until the date of payment and will continue to be charged interest on the remaining £300 until you repay it.
This is normal over all cards

Plutonomics

I see, that makes sense. I just assumed interest would be on the outstanding balance, not the whole balance. One for me to watch out for going forward! Thanks for the help.