UK credit card guides

Why have I been charged interest on my credit card?

Start with the interest charged line on your latest statement. Then compare it with your previous statement, the payment due date and when the provider received your payment.

Three things to check

1. How much did you pay, and when? If you paid only part of the previous statement balance or paid after the due date, check your provider’s rules for when purchase interest applies.
2. What kind of balance do you have? Look for separate rates for purchases, cash transactions and transfers. Also check whether a promotional rate ended during the period.
3. Did you recently clear a balance? Ask whether interest had already accrued between the previous statement date and the date your payment was received.

Ask for a breakdown if it still doesn’t add up

Ask your card provider which balance was charged, what rate it used and which dates the charge covers. Those details can explain a charge even if the PDF only shows a single interest total.

Sources

• Barclays guide to unexpected interest charges
• Barclaycard guide to how interest is charged