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why was i charged interest on a late cc payment

Posted by gpee gpee
Message 1 of 4 630 Views

I have a mastercard

I forgot to pay my november account of $15.also made purchases thru ebay and paypal of $46.20.my december statement arrived and I was charged $25 late fee (ok my fault)but the statement also included $10.75 PURCHASE INTEREST.how can I be charged 10.75 interest on 15.00 owing

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Re: why was i charged interest on a late cc payment

Posted by SarahF SarahF
Message 2 of 4 628 Views

Hi @gpee,

 

Thanks for contacting us in regards to this. Via the Forum I'm not able to see what has happened and why this was charged however if you have access to a computer you can log into online banking to live chat with us. Alternatively you can call us on 13 17 19 so we can look into this for you. Thanks!

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Re: why was i charged interest on a late cc payment

Posted by cgm cgm
Message 3 of 4 616 Views

Have you called and found out what happened @gpee?  I'm curious to know what happened.

 

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Re: why was i charged interest on a late cc payment

Posted by gpee gpee
Message 4 of 4 612 Views

no I didnt ring them a second time,too angry to deal with them.

a man on talkback radio said the same happened to him (different bank)

he found that using a credit card to pay say car rego is now concided a cash advance and interest is applied instantly and daily till its repaid.so Im cancelling my credit card and use a debit card

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