Interest on card...not expected

2

Comments

  • dazzaofdagenham
    dazzaofdagenham Posts: 1,511 Forumite
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    redpete wrote: »
    what was the balance on the statement before the £150.01, and did you pay that off in full before the deadline?

    The balance was zero...
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
    I don't think you answered the question "Are there any cash, currency or gambling transactions?"
  • eskbanker
    eskbanker Posts: 30,929 Forumite
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    PeacefulWaters wrote: »
    I don't think you answered the question "Are there any cash, currency or gambling transactions?"

    See post #3 immediately after you asked that in post #2!
    dazzaofdagenham wrote: »
    Only spending was petrol...amazon....and food shopping
  • dazzaofdagenham
    dazzaofdagenham Posts: 1,511 Forumite
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    PeacefulWaters wrote: »
    I don't think you answered the question "Are there any cash, currency or gambling transactions?"

    No none of those...
  • dazzaofdagenham
    dazzaofdagenham Posts: 1,511 Forumite
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    Just a question though...

    When the balance was 150.01......as I said I made various payments of 175, and new spend8ng of 350.

    The first payment I made was 30 pounds straight away when statement generated.....could it be that counted as the payment towards the min payments and anything else didn!!!8217;t co7nt ?
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
    eskbanker wrote: »
    See post #3 immediately after you asked that in post #2!

    Bad day. Somewhere in my head it became a vague answer when it clearly isn't.
  • Dobbibill
    Dobbibill Posts: 4,134 Ambassador
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    Can you tell us your statement date, due date, following statement date.
    Then all payments including dates.

    It looks like a timing issue but without the dates we are just guessing the most likely cause ;)
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  • nic_c
    nic_c Posts: 2,928 Forumite
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    It sound like confusion between the due date and statement date.

    What was paid after statement 2 was produced, since statement 3 will show interest from not clearing balance on statement 2 due date
  • daveyjp
    daveyjp Posts: 12,510 Forumite
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    edited 12 April 2018 at 8:07PM
    Don't drip feed payments to a credit card bill as they operate around statement dates, not a rolling balance.

    The first payment was probably treated as the payment for that month against the statement balance, so that month's statement activity is effectively 'closed'.

    Any other payments made, even before the due date, will reduce your account balance for the NEXT statement date. Interest will therefore be due as the original amount due wasn't paid in full in one payment.

    Save the money somewhere else. Wait for statement, pay in full before due date. Don't treat it like a bank account as you will quickly come unstuck.
  • dazzaofdagenham
    dazzaofdagenham Posts: 1,511 Forumite
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    daveyjp wrote: »
    Don't drip feed payments to a credit card bill as they operate around statement dates, not a rolling balance.

    The first payment was probably treated as the payment for that month against the statement balance, so that month's statement activity is effectively 'closed'.

    Any other payments made, even before the due date, will reduce your account balance for the NEXT statement date. Interest will therefore be due as the original amount due wasn't paid in full in one payment.

    Save the money somewhere else. Wait for statement, pay in full before due date. Don't treat it like a bank account as you will quickly come unstuck.

    I think that’s what was just explained to me on the phone.
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