Credit card interest

paulamonkeyfeet

Hello
i pay my credit card in full but use it regularly for buyer protection.
I have been charged interest  by MBNA despite paying in full on the correct day and have stilll been charged interest. 

Upon ringing customer services I was told I must pay in full for two months. Last month i also paid in full but my got tge payment date wrong. It was a day late. 

Can I claim this interest back?

Brie

You can ask but they may say no as you were late.  The only time I was successful with this (& I think with MBNA) was a couple of years back and I rang them the day I paid to check what would happen.  As it was they refunded that month's interest but there was still some residual 2p or similar charged the next month.  

If you know you will always pay back in full can you not set your DD up that way?  I don't know if this is possible with MBNA but do know that other cards allow this.  That way it wouldn't be an issue.  Obviously if you are in doubt about the amount of money in the bank at a certain point in the month maybe they could start by changing the payment date to make life less time sensitive.

paulamonkeyfeet

Thank you Brie. My payment was a day late last month but on time this month. I will look into setting up a DD to pay in full instead of tge minimum amount Thank you 

[Deleted User]

You can't claim the interest back as it's correctly charged, but you can avoid it in future by always paying full and on time.

paulamonkeyfeet

I paid in full and on time but have still been charged.

Brie

paulamonkeyfeet said:

I paid in full and on time but have still been charged.

Yes but the first month you were a day late and so were correctly charged interest.

Interest is then charged on interest from the day it hits your account until the time it's cleared so you were correctly charged interest in the second month.

You should not be charged in the third month if you pay on time and in full.

grumbler

paulamonkeyfeet said:

Hello
i pay my credit card in full but use it regularly for buyer protection.
I have been charged interest  by MBNA despite paying in full on the correct day and have stilll been charged interest. 

Upon ringing customer services I was told I must pay in full for two months. Last month i also paid in full but my got tge payment date wrong. It was a day late. 

Can I claim this interest back?

I guess  it was very small amount last month, not full interest for all your purchases. Correct?

paulamonkeyfeet

Thank you all for your charge. I’ve had two month’s worth of interest credited to my account.