interest on purchases

brenda50

Hi

I have had an mbna card for 4 years, and was sure that I have not been charged interest as I pay my bill every month except for a few rare occasions. I saw interest written on my bills for a while now and thought that this is the charge if i do not clear the full amount but today I was told by them when i queried it that they are charging me interest on purchases from day 1. It says on my information sheet that there is an interest free period of 56 days but they said on the phone that I have never had an interest free account (if paid at the end of month) What's going on?

clio

well you said it your self " pay my bill every month except for a few rare occasions"
You have to pay 2 months in a row to gain interest free credit. so i wreckon thats why
interest is on your account.

DestroyingAngel_2

The interest free period is only if you pay off your balances each month on time. If you only pay a certain amount each month, you will ALWAYS see interest on your account. Clio is correct - you need to pay off your balance in full for 2 consecutive months for the interest to disappear.