Credit card overcharging?

B

bigbadostric

Registered User
Messages
62
I have a limit of €1700 on a BOI clear card. It's more or less maxed out.

This month's purchase interest charge was €19.83.

By my count my monthly interest rate here is 0.7916666%

By this a maxed balance of €1700 should see an interest charge of in and around €13.50 no?

I have no cash balances on the card.

It's a trivial sum but overcharging annoys me!
 
I don't think it's quite that simple - interest is usually charged from the date of each purchase or cash advance, so it can get quite complicated to work out exactly how much interest is due each month.
 
Locke said:
Is it or isn't it maxed out? Did you take cash out? Miss a payment?
Click to expand...

No cash taken out (cash interest displays separately to purchase interest on statement anyway) and it has been slightly under the limit. (around 1679)

I have never missed a payment.

I think the post previous to yours is probably correct. In any case, time to start paying it off! ;)
 
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