Confused with billing cycle

Willing2Learn

@Jello123


I accidentally used the wrong card when I was in Tesco a couple of months ago. I unintentionally used the BT card instead of the purchases card.

This is what I did to rectify the problem:

• I paid the minimum contractual payment on the next statement plus the full amount of the accidental purchase.
• I paid trailing interest the next month.
• The following statement was interest free and I still have the BT balance on the promo.

Hope this helps

Jello123

MallyGirl wrote: »

payments are applied against the statemented transactions so if the transaction hasn't appeared on a statement yet you may end up paying off some of your 0% BT and still having the interest incurring transaction there Just wait for the statement - pay enough to cover the interest and purchases, then next month pay any trailing interest. Do not use the card for any more purchases.

Thank for the reply. This is what I was afraid of - I.e. paying off the BT rather than the purchase.

The purchase IS showing on my recent transaction page, but obviously not on my statement as I have had the latest statement yet.

I guess if I make any payments now, it will go toward the BT. So best to wait for the statement, then pay off the full amount for purchase + minimum payment + a bit more to cover any interest.

Terry_Towelling

This issue of mixing BTs and MTs with general spending does catch a lot of people out - especially those who like to pay before they get a statement.

For clarity, there are some card issuers (Barclaycard and Nationwide are two) who keep promotional balances and new spending separate. If you get a statement with a 0% BT/MT on it and, say, £100 of new spending, then as long as you clear that £100 of new spending (and meet the minimum payment amount), you will not be charged interest.