mega_stream

I bought a £1,700 TV online and used my credit card (so I got some protection if it never arrived)

Slapped the payment on the card, 5 days later I got a statement with the TV purchase on, a payment due by date and calculated interest / minimum payment due.

Now, I always thought that you only pay interest on the balance when the statement is generated - so after 2 weeks I clear the balance. I got a statement yesterday and they have charged me what I believe is 2 weeks interest on the £1700

I phoned and complained, spoke to someone that read off a script and expecting a call from a supervisor today.

Anyone know if this is right? - I thought the idea of a credit card was interest free period so long as the balance is cleared by the due by date on the statement? - this plu the fact I only have the TV 5 days before the statement was generated!!

I'm so racked off with them I've going to tell them today to cancel the thing.

suprabeast

that is generally true unless you have a pending balance on the card

boomer

I think that by law credit card companies must now show the (potential) interest etc. so that you know in advance what you will get stung for if you don't pay the statement off in full.

Clear the balance by the "due date" and you should be fine!

Has the TV been delivered yat?

mb

Reffro

You need to read the T&C's of your card, some now apply interest from the date of purchase.