HElp! Capital One Circle card charging

tonicha

Just had my latest bill from Capital One and they've charged me £19.09 interest because I didn't pay off 47p of the bill. They refuse to see this as unreasonable.

They say they charge interest on the full original amount on the bill if you don't pay it all off, not just the amount you leave on there. On the back of the bill it says if you fail to pay off all the bill you'll be charged interest on the outstanding balance, which means the 47p to me NOT the original full amount. Can they really do this?
Some advice please!

Tonicha

klondyke

Yes, they can really do this - it can't be emphasised enough that wannabe stoozers must adhere to small print, to the letter.

grumbler

tonicha wrote:

They say they charge interest on the full original amount on the bill if you don't pay it all off, not just the amount you leave on there. On the back of the bill it says if you fail to pay off all the bill you'll be charged interest on the outstanding balance, which means the 47p to me NOT the original full amount. Can they really do this?

I guess your T&C are the same as for their Classic card:

An effective rate of XX.XX% p.a. (variable) from the date of purchase until repayment. No interest is payable if you pay in full the outstanding balance on your first statement by its payment due date. No interest is payable on subsequent statements if the outstanding balances on your current statement and the previous statement are paid in full by their respective payment due dates.

If I understand this correctly, be prepared to pay interest on the next month balance too.

mark_jones13

This happened with by BA American Express Card once. I carried a balance of £500 over from the statement date for 5 days and then paid in full. They wanted to charge £40 in interest.

I got it all refunded and was told to call up the next month because there would be another small interest charge of £3. I got that refunded too.

It depends what company it is and how flexible they are with customer service.