Paid CCard off in full but still ended up owing interest??

Den1se

Hope I am posting this in the right place......

I had a Virgin CCard with an outstanding balance - my November statment arrived & I paid the full amount on 29th November (payment due 5th Dec) - however I recieved another statment today with a balance of £28.65 INTEREST!!!!:mad: I rang MBNA immediately to be told that as interest is charged on a daily basis this was the interest accrued from 19th Nov (when statment sent) to 29th Nov when I paid. I argued the point that really then the outstanding balance isn't the real outstanding balance Because interest is accruing daily) and on that basis I could never pay this card off anyway because I would never know what the real balance was - but he was adamant that I owe this money.:mad: Has anybody else come across this and can anybody advise me of my rights.

inmypocketnottheirs

In order not to pay any interest you will need to pay two monthly statements in full consecutively. This is because interest accrues until the date the payment arrives on your account. Thus if you always pay in full, then no interest will be payable.

YorkshireBoy

2d ...We will not charge interest on the card purchases shown on your statement if you pay off the whole balance shown on that statement, and on the statement before, by the date the payment is due. Otherwise, we will charge interest on all transactions, handling fees, service charges, default charges and interest starting on the transaction date and ending on the date you pay the bill in full. We work out interest each day, so the earlier you make a payment, the less interest you will have to pay.

Had you paid the previous statement in full and on time?

Or were you coming to the end of an introductory offer? If so, your 0% end date is your statement date...not your payment due date.

Den1se

YorkshireBoy wrote: »

Had you paid the previous statement in full and on time?

Or were you coming to the end of an introductory offer? If so, your 0% end date is your statement date...not your payment due date.

No I hadn't paid the previous statment off in full - it was the end of a 0% - obviously my misunderstanding:o - Thanks for your help.....I was feeling 'ripped off' but now I feel better:rolleyes:

Merry Christmas