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HSBC credit charge?
newmrslockwood
Posts: 393 Forumite
in Credit cards
Hi, We have applied for a HSBC credit card for the 12 months interest free on purchases. We only want to use it to purchase our car insurance to save on interest rates from the insurance companies as advised on this site!
We received the forms to sign today and they mention a £61.44 charge for credit. We haven't had a credit card before and don't understand this charge. We do not understand the explanation in the terms and conditions.
I was just wondering if someone would be able to explain it on here.
Any answers would be very gratefully received.
We received the forms to sign today and they mention a £61.44 charge for credit. We haven't had a credit card before and don't understand this charge. We do not understand the explanation in the terms and conditions.
I was just wondering if someone would be able to explain it on here.
Any answers would be very gratefully received.
Nothing to declare 
0
Comments
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Don't worry about that figure. You don't have to pay it !
It's used as an example of what you would be charged in interest if you spent up to your credit limit and paid the minimum back each month. They have to put this.
Obviously it doesn't apply whilst you're under the 0% offer period but will once that period has ended.0
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