Displaying APR

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cluey
cluey Posts: 12 Forumite
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Hi all, just a quick query with regard to card statements and what has to be displayed on the monthly statement file.

My wife has a store card ( I know, been trying to get it destroyed for a while). Anyway, I'm looking through all the statements and while it mentions the 'interest & other charges' in £££, it doesn't actually state anywhere (that I can see) what the APR actually is.

Every Credit card I have, lays out the charges really clearly. So as I have several active balance transfers, it lists how much is on each transfer, and when they expire. Along with the APR for any other transactions that may have happened over the previous month.

I seem to recall some rule that said the APR had to be clearly displayed on all statements. But with this store card, it's no where to be seen.

As it happens we've just cleared the card and we're now going to close the account, but if the APR has to be displayed then they should be made to display it in my view.

Any help appreciated.

Thanks.
AC

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  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    It doesn't need to be APR. It can be the monthly rate.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
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    I think I know where this thread is headed --- no it does not mean the debt will be written off on a technicality.
  • chattychappy
    chattychappy Posts: 7,302 Forumite
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    jonesMUFCforever wrote: »
    I think I know where this thread is headed --- no it does not mean the debt will be written off on a technicality.

    You old cynic!
  • cluey
    cluey Posts: 12 Forumite
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    I'm not after it getting written off, but I had a similar issue with a loan a few years back. Basically I got the interest charges refunded along with an a bit of compensation.

    It was just a query as it seemed odd that the APR isn't anywhere to seen, not just on the statement but on their website too.
  • cluey
    cluey Posts: 12 Forumite
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    Deleted_User wrote: »
    It doesn't need to be APR. It can be the monthly rate.

    yes, but there's no interest rate at all displayed. it simply states a charge in £'s. No percentage, whether flat rate or APR. Simply states "interest and other charges - £10" (as an example).

    So I've no way of comparing the relative cost of this debt, to another card I may hold.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
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    Which card is it?
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