Credit Card Interest-charged on billed amount, not amount outstanding

R

roker

Registered User
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Just had a query on my TSB ICE Visa Card. I always thought that interest was charged on any outstanding payment. This is not the case with TSB
For example
If my statement says I owe €1050 and I pay off €1000

I thought I would only pay interest on €50, but with TSB the interest is on the full amount from the purchase date, unless the full amount on the statement is paid.

I just incurred €12 on the €50 outstanding for the month.

this is a first in my experience
 
Re: \credit Card Interest

This is the same with any credit card. Have a look at the Key Post here.

You must pay the full amount outstanding to avoid interest.

A valuable lesson learned.
 
this is a first in my experience
Click to expand...

Roker, make sure that this is the last time it happens. Always pay your bill in full each month to avoid interest. I'm sure many people make this mistake once.

Marion
 
Thanks all

TSB have a confusing way of presenting the bill, this is why I was €50 short in paying the full ammount, it was in bold print on the page.
I may be wrong,but I did not see this happen with My UK Visa card.
 
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