Interest

Ebe_Scrooge

@Brie, yes, that's it.

The common misconception is that if you pay £900, you'll only be charged interest on £100 for the whole of the previous month, if you see what I mean.  But as you rightly say, you get charged interest on the full £1000 for the previous month (and yes, the remaining balance and interest gets sorted out in the next statement).  The main point is that you need to clear the full balance in order for all interest to be waived.

Brie

Ebe_Scrooge said:

@Brie, yes, that's it.

Thank goodness!  I was starting to think we were going to end in fisticuffs!!!!

born_again

amhanna said:

I have a Tesco credit card and I have had some late payments a few years ago but looking on my statement I now have a rolling charge and interest each month I have spoken to Tesco and been informed that this will not get paid off until all my other balances are clear  even if I overpay this will not be put against this balance it's gone from 40p to £158  and I get £1.99 interest every month does anyone else understand this

So what is the actual balance on the account now, & how much a month do you pay?

Might help get some answers.

As no way can making a minimum payment without any further spending/balance transfers mean that the balance goes up. Other than you are still missing payments & still being charged each month.