Egg Card - Interest Calculation

Nick68

Does anyone know the basis on which Egg Calculate their interest?

Last month I paid off/transferred out to a 0% deal on another card my entire balance except £12.

Just got my online statement, nearly £50 in interest charges. Never seen this before when i've paid off other cards in the past theres been no charges.

I can't find their basis of calculation online anyone got any ideas?

YorkshireBoy

They calculate the interest from the date of the transaction(s) to the date you settle IN FULL.

See condition 4.3 of the credit agreement.

I'm surprised you say it's never happened before because as far as I know all card providers operate this way.

Nick68

Thanks for that, If i'd transferred the extra £12 over then this wouldn't have happened?

jamalfatty

It still would have happened but the interest would have been calculated on £12 less balance