CreditCards Blog

Hi all

Last December I took out a balance transfer card 0% for 12 months.
In june, without realising until this week, i was 2 days late with a payment....
Without me knowing it, that cancelled my 0% interest.
I only realised when I payed the balance off in full a week or so ago.
Being 2 days late has cost me over 500 in interest since June ! Nightmare!

After paying the balance off in full I called to cancel the account and asked if I was fully paid up. I was told yes and that my account was closed.
I got a letter confirming this.
Now I have recieved a statement saying I owe more interest and it even has next months estimated interest on it !!
I phoned up but was told it was due to new "trailing interest" and would have to be paid......
What do I have to do to close this account!!!???!!!

Thanks for reading my ramblings, I know the hundreds I lost through interest is my own fault but I really wanted rid of the account and thought it was closed!

cheers

Two ways to stop the interest...

1. Pay off 2 consecutive statements in full and by their respective payment due dates, or

2. Overpay the first statement to create a small positive balance (which they'll then refund when you call to cancel).

How on earth did you not notice the cumulative amount of £500 showing on your statements?

Cos im an idiot mate....
The interest was around 80 a month, I just didnt read the statements...
When they came I just paid a few hundred off knowing that that would be more than the minimum payment......
Lesson learnt!!