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Estimated CC interest. Is this correct?
fimonkey
Posts: 1,238 Forumite
in Credit cards
Hi All,
I have a Halifax one CC with 0% on purchase. I stupidly went over the limit of £3050 on the 31st May by £93.42. Of course I had a leter and a £12 charge, which they removed once I called them. And of course I've lost the interest free period on my balance, but that's OK cos I paid off the balance in full once I realised I'd gone over the limit., they received the payment on the 10th June.
..But now, my statement says 'next month estimated interest = £49.58.
Is this right? the APR is 15.9% apparently. How is this calculated?
Many thanks
Fi
I have a Halifax one CC with 0% on purchase. I stupidly went over the limit of £3050 on the 31st May by £93.42. Of course I had a leter and a £12 charge, which they removed once I called them. And of course I've lost the interest free period on my balance, but that's OK cos I paid off the balance in full once I realised I'd gone over the limit., they received the payment on the 10th June.
..But now, my statement says 'next month estimated interest = £49.58.
Is this right? the APR is 15.9% apparently. How is this calculated?
Many thanks
Fi
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