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Help me to understand my credit card statement
previous balance 2137
Debits 556
Credits 269
New balance 2424
Transaction balance 955
Interest 10.05
I can’t even make interest plus credits plus debits come to 955.
What am I missing? Please please shed some light on this.
Last month’s statement had the same issue I think.
Comments
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The new balance bit is correct.
Is the transaction balance money that you’ve spent since then plus anything still be pending plus any fees owed? So effectively money that would be paid off on the next statement, not the current one.
All shall be well, and all shall be well, and all manner of things shall be well.
Pedant alert - it's could have, not could of.0 -
I haven’t spend anything since the end of this statement.
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I don’t believe I owe any fees.
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Might be easier if you copy and pasted the last 2 statements to show us what was happening. blank out you name and any evidence of who you were purchasing from etc - just the numbers. Then we can look and see what's going on.
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⭐️🏅😇🏅🏅🏅🏅0 -
Unless you pay the balance in full each month (you did not) then unless you are on a 0% purchase card. You pay interest on the full balance from the date of the actual purchases.
Even if you pay the balance off in full this month. You will still have trailing interest on at least the next statement.
Life in the slow lane0 -
What card is this as I have never seen the term "Transaction balance" on any of the cards I have ever had. Do you have different balances such as BT as well as spending on the card ? Is that balance the amount that interest is being charged on - the rate would be around 1.05% pm / 13.4% APR on £955 - as that interest amount is very low for the total outstanding balance.
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Did you transfer in a balance from another card at 0%?
Depending on the offer at the time, the 0% is probably only applied to the transferred in balance and you are probably paying interest on any new transactions.
So unless you pay the whole of the new purchases balance each month, you will pay interest and they apply it from the date of purchase, until its completely paid, not the date of the statement.
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