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How credits applied

Posted by JudyC JudyC
Message 1 of 2 59 Views

My closing balance is under $300 this month. I am expecting a credit from a hotel of about $500 next week. The monthly payment is not due for a while. If I make no monthly payment will the credit of $500 ensure no interest accrues?

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Re: How credits applied

Posted by DanaeC DanaeC
Message 2 of 2 53 Views

Hi @JudyC, thanks for your enquiry.

 

If this is a refund coming from a merchant, it wouldn't be counted as a payment to the card I'm sorry. This means that you would need to make payment to the card prior to the due date. If no payment is made then a late fee would be charged, as would interest. You would need to ensure that you are paying the Statement Balance in full each month to ensure that no interest accrues at all. If interest is charged to your account, you can stop this by paying either 2x Statement Balances in full (in succession), or by calling out Contact Centre on 13 17 19 to obtain a Payout Figure.

 

Thank you.

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