How much does it cost you using a credit card?
>
> I'm with Barclays and I don't think there is an annual payment. >
> But, there are interest charges. Purchase APR 17.9% and 21.4% cash
> APR. I don't know the difrerence between these two.
>
> Anyway, if I'm not sure how interest is worked out. If I made a
> credit card purchase for £100 at the start of the month and paid that
> off before the expiry date for paying at the end of the month, do I
> pay interest? Or do I pay interest on the balance outstanding after
> the expiry date?
>
> Thing is though, if you don't pay up at the expiry date Barclays
> charge you about £20. Well if that is the case everbody must pay the
> balance before the expiry date, and I guess that means for spending
> that £100, I paid £17.90, even though I paid before the expiry date.
> Otherwise Barclays makes no money.
>
> I did think at one time that my interest charge was levied on the
> balance upaid after the expiry date, but that is not true. Is it? > > TIA.
>
> Rich.
Aah penny dropped. If I do not pay £5 miminum payment, then I will get stung for £20 late payment charge. But, a lot of people just pay that and will pay the interest on the balance. If all the amount is paid then there is no interest levied.