Paying off balance vs interest being charged

onetimeatponycamp

So I've looked through and as far as I can see based on everything mentioned here I've been charged in error in December and January. (No promo rate on this card)

Now I'm wondering if they've erroneously charged me in the past and I haven't noticed! Is there a procedure I can go through to check this, or do I need to trawl through all my statements to find any errors?

eskbanker

Has the interest definitely been charged as such?  It's not uncommon for a notional interest charge to be shown but not actually collected if the full balance is paid, i.e. it's showing how much interest would be paid if not settling the statement in full.

born_again

Perhaps the best option, given we can not see your statements, would be to call Halifax and ask them why?

Elmer_BeFuddled

Having the same(?) problem with a NatWest Rewards CC. Paid off (nearly) in full November (late by a day being posted through app to a/c). Interest added December (balance cleared), January (balance cleared), and now February. Bill due end of month but already paid off. See what happens when dd is due end of month and new statement generated.

molerat

Elmer_BeFuddled said:

Having the same(?) problem with a NatWest Rewards CC. Paid off (nearly) in full November (late by a day being posted through app to a/c). Interest added December (balance cleared), January (balance cleared), and now February. Bill due end of month but already paid off. See what happens when dd is due end of month and new statement generated.

Yours is not the same though.  OP states they have paid off all balances before the due date, you did not pay off the Nov bill so it takes a couple of months to clear the back interest.

phillw

onetimeatponycamp said:

I'm looking at my previous statements for my credit card:

- Statement issued 1 October, full statement balance paid off before due date (but not full balance on date the payment made).

What about September?

One thing to watch out for is if you have a 0% purchases or balance they often have an expiry date in the middle of a statement period. If you wait to pay to the day the 0% promotional interest rate ends, then you have to clear the full balance & you should not use your card until the next statement has been issued. Otherwise any purchases you make will attract interest as you had an outstanding balance at the start of the month (that it was at 0% makes no difference).

The other thing to watch for is how you're paying, if you send a faster payment then you need to send it before the cut off time (probably 4pm) on the day that the payment is due. If you use a debit card then you may have to do it the day before as they won't receive the money straight away. I have had "to reach your account by" be a date that they don't actually do payment processing on, payments due on the tuesday after easter bank holiday weekend always caught me out.

The best way is via direct debit, if they take it late then you don't get charged interest.

jimjames

onetimeatponycamp said:

Deleted_User said:

Most likely is that there is a cash transaction in there.

It's all ordinary purchases.

I also have a Halifax card that is paid off in full every month. I'm never charged interest so there is something specific to your account or transactions generating it rather than the card itself. Mine is always paid by DD so Halifax control the date of payments. Do you pay yours manually?

deadendwaterfall

jimjames said:

onetimeatponycamp said:

Deleted_User said:

Most likely is that there is a cash transaction in there.

It's all ordinary purchases.

I also have a Halifax card that is paid off in full every month. I'm never charged interest so there is something specific to your account or transactions generating it rather than the card itself. Mine is always paid by DD so Halifax control the date of payments. Do you pay yours manually?

I pay mine manually.