Credit card question

Posty · 2 Nov 2009 at 11:55

I spent £26 on my credit card last month and completely forgot about it, the payment due date was 29th oct and i see on my bank statement that £5 was paid into it i guess this is the minimum payment.

My question is, will i get interest charged? it has not yet from what i can see, also how would this effect my credit score. i have paid it all now btw.

touch · 2 Nov 2009 at 11:58

If you paid the minimum, it will not effect your credit rating.
You will have to pay interest on the ammount you owe tho.

Tunney · 2 Nov 2009 at 11:59

I forgot once and got charged. I have a direct debit set up now.

It shouldn't affect your credit history unless you miss two payments in a row.

Jez · 2 Nov 2009 at 12:03

He didnt miss a payment, he clearly has a direct debit for the minimum payment setup.

Deadbeat · 2 Nov 2009 at 12:08

So yes, you'll get interest charged on the remaining £21. The best thing to do is contact your card company and change your monthly debit from minimum payment to full balance. These seem to be the only two options, and it appears you've got the former set up already. As long as you don't spend much in a month (i/e/ more than you can afford) you'll run into no problems, and frequent charges immediately paid off in full will boost your credit rating.

Rotty · 2 Nov 2009 at 19:20

Deadbeat said:
So yes, you'll get interest charged on the remaining £21. .

he will get interest charged on the whole statement amount

mrmoose · 2 Nov 2009 at 19:46

Rotty said:
he will get interest charged on the whole statement amount

This is correct.