MBNA Credit acds.

[guest]

If you only part pay off your MBNA credit card bill, you will be charged interest of the full value of the bill. Example:if the bill is say 1000 euro and you pay off 800 euro, and leave the 200 euro outstanding, you will be charged interest on the full 1000 euro. Does every credit card supplier do this?

I would have expected that I would only be charged interest on the outstanding 200 euro ?

 

[rainyday]

You are nearly right. If you don't clear the balance in full, the 25 day free credit from the date of the bill does not apply.

So if you pay off €800 euro after 10 days, you are charged interest on the €800 from the time the charge was applied up to the time you paid, and the €200 euro from the time the charge was applied to the time you paid.

The free credit only applies if you clear the full amount before the due date.

It's all explained in the small print if you dig deep.