libertine21
New Member
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I have copied below the details of my two most recent credit card statements. When I received the August bill I was a little confused. I paid off the balance of my July statement (4641.47) more than in full (5258.50) on 10th August (in advance of the 13th August due date). However interest of 23.50 appeared on my August bill. I discussed this with AIB and they told me that the interest that appears on the August bill is related to the fact that I didn't pay off my JUNE bill in full (paid 1500 off 5984.08). I don't think this is right but AIB are adamant. However when I asked them to explain how the 23.50 was calculated they weren't able to (for reference the monthly interest rate printed on the bill is 0.76% - I can't reconcile the 23.50 with this rate and any of the statement balances). I had thought I understood CC statements but maybe I am wrong - can anyone help?
Credit Card statement dated 19th July
Previous balance: 5984.08
Transaction during period: 105.38
Interest: 52.01
Payments Received: 1500 CR (paid by due date of 13th July)
New Balance: 4641.47
Credit Card statement dated 19th August
Previous balance: 4641.47
Transaction during period: 1043.07
Interest: 23.50
Payments Received: 5258.50 CR (paid by due date of 13th August)
New Balance: 449.54
Credit Card statement dated 19th July
Previous balance: 5984.08
Transaction during period: 105.38
Interest: 52.01
Payments Received: 1500 CR (paid by due date of 13th July)
New Balance: 4641.47
Credit Card statement dated 19th August
Previous balance: 4641.47
Transaction during period: 1043.07
Interest: 23.50
Payments Received: 5258.50 CR (paid by due date of 13th August)
New Balance: 449.54