Low balance write off

Chrysalis

Noticed this on my tesco card lately, I guess someone realised the cost of a payment been made even by DD isnt worth it if the transaction is low enough, so I assume if a balance is small enough it just gets written off.

In my case I had timed a 0% offer payments to end the same month the offer ended, and it seems £14 spilled over into an interest bearing month, the interest got added after the payment was calculated leaving a sub £1 balance, and its now written off.

skycatcher

I had 3p written off this month!

Belenus

skycatcher said:

I had 3p written off this month!

Beers are on you tonight.

WillPS

Chrysalis said:

Noticed this on my tesco card lately, I guess someone realised the cost of a payment been made even by DD isnt worth it if the transaction is low enough, so I assume if a balance is small enough it just gets written off.

In my case I had timed a 0% offer payments to end the same month the offer ended, and it seems £14 spilled over into an interest bearing month, the interest got added after the payment was calculated leaving a sub £1 balance, and its now written off.

It's a quirk of the Natwest Group credit card system, a version of which is used by Tesco Bank (which was once a JV with RBS).

Spend less than £1 and your statement will be written off. Worth potentially £11.88/year if you can find a way of spending exactly 99p and no more every statement period.

wiseonesomeofthetime

I top up my Amazon Gift Balance by a £1 each month and Tesco kindly write it off each month. Closing in on £12 for the year and a card that is still active (I think)