MBNA Credit cards

hibs

l payed off my mbna credit card in full on the 22/5/08 received a phone call from the company to ask where l had received the money to clear the account and why l gave them the answer.they then prcedded to tell my that l would be charged intrest on my account from the 2/5/08 to the 23/5/08 because the interst is worked out daily ,l aske how was this because l cleared my account before the due date they also said that the intrest was on the mount of £2364 this was my closing balace so now if this is the case i'm still going to be due them about £700 please help

CLAPTON

if you normally dont pay in full then
you need to pay in full for two consecutive bills to clear all the interest.
thats how all CC work.
I can't see how you calculate it to be 700.. seems far too high

bengal-stripe

Presuming your rate of interest is 16 %, that would be £ 378.00 for the entire year.
Interest is charged daily, so that is just over £ 1.00 per day or £ 21.75 for 21 days.

If your interest rate is 29.6 %, that would be £ 700.00 for the year.
Daily interst is 700 : 365 = £ 1.92 per day or £ 40.27 for 21 days.