Estimated Interest

gt94sss2

I suggest you just set up a direct debit to automatically pay the balance in full each month.

scandalpk

A'm also facing the same problem but now I cleared it with set up debit card to automatically pay the balance in full each month.Thanks for the help.

dogshome

There are 2 dates listed beside each transaction on the statement, the first is the day the transaction took place, and the second is the date the Card Co. paid the supplier - It's from the the 2nd date that you incurred a debt with the Card Co



As items on the statement have different Purchase/Pay dates, each one will have interest calculated to a different value which grows daily.

Where a statement shows a figure that includes added interest, simply Paying Off the total statement value as soon as the statement arrives will not clear the debt, as in the few days that passed between the statement being produced and it's delivery to the customer, the debt is still growing.


Unless the customer has software that will calculate daily compound interest on a multitude of items with different start dates, my advice is to OVERPAY the statement bill generoursly

Alexd52

phillw wrote: »

I only remember seeing estimated interest when I'd not cleared the balance the previous month.

It happens when your 0% deal ends if you try to get the full 0% term as your spending in the last month will attract interest because at the beginning of the month you had all that stoozed spending on there. But in that circumstance the estimate is correct, they will charge you that interest even if you pay that statement in full.

It's estimated because if you clear the balance in full before the next statement then they'll stop charging you interest.

I see an estimated interest on my statements and I pay in full every month, except when on 0% promo. For those not on 0% promo, it varies with statement balance, for those on 0% promo it always says 0% (unless it's the expiry month of course)