Credit Card Interest

samshoward

I thought I had paid my balance off in full last month but when i got my statement they have charged me interest because they say I didn't because I allowed for a credit and to cover some of the balance and apparently I shouldn't have done this. Can they charge me interest, the credit was made before the payment was due to my account - help!

youknowwho

interest is clculated from the date the statement is printed until the date you pay it off. So for example they print statement on the 1st marc, and its due 30th march and the estimated int for a whole month is 30 pound, then you will pay a pound a day until its paid, so if you clear it on the 15th , the you will have accrued 15 pound. Whenever you clear a balance in full you always have to pay the estimated int on top aswell, and if your in credit at the end of it the wil refund i to you.

HTH