Interest Charges Calculation

eskbanker

Superhoopza said:

They are also saying if I make a substantial (but not full) payment now, my interest will not change until it is paid off in full. I questioned that to say do you mean I will still incur interest but not as much and they said no my interest will not change. That seems odd?

I suspect that the conversation may have been at cross purposes - making any sort of repayment at any time (without additional spend) will reduce the interest accrued subsequently, but won't affect what's arisen before that date.

Superhoopza

eskbanker said:

Superhoopza said:

They are also saying if I make a substantial (but not full) payment now, my interest will not change until it is paid off in full. I questioned that to say do you mean I will still incur interest but not as much and they said no my interest will not change. That seems odd?

I suspect that the conversation may have been at cross purposes - making any sort of repayment at any time (without additional spend) will reduce the interest accrued subsequently, but won't affect what's arisen before that date.

Thought as much. I tried to be crystal clear with the question and asked it numerous times. I'll just keep working on clearing this balance by the end of the year which is the aim.

molerat

The only way to stop accruing interest is to stop spending on the card until it has been fully cleared for 2 months in a row.

Superhoopza

molerat said:

The only way to stop accruing interest is to stop spending on the card until it has been fully cleared for 2 months in a row.

I know. That wasn't the question(s).