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How much is my credit interest going to be?

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  • 23-12-2010 4:28pm
    #1
    corblimey
    Registered Users Posts: 4,475 ✭✭✭


    Due to my own dumbassiness, I'm going to have to pay interest on my Tesco credit card payment for this month. The APR is 19.1% but I have no idea how to work out how much I'll owe. The payment was due 20/12, but the money didn't leave my account until sometime on the 21st.

    So I need to figure out about how much interest they're going to charge on €x for 2 days at 19.1%. I rang the cc company, but they were useless.


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    #2
    dobsdave
    Closed Accounts Posts: 1,814 ✭✭✭dobsdave


    corblimey wrote: »
    Due to my own dumbassiness, I'm going to have to pay interest on my Tesco credit card payment for this month. The APR is 19.1% but I have no idea how to work out how much I'll owe. The payment was due 20/12, but the money didn't leave my account until sometime on the 21st.

    So I need to figure out about how much interest they're going to charge on €x for 2 days at 19.1%. I rang the cc company, but they were useless.

    Not enough detail.
    Looks like they will charge you a months interest at 19.1/12=1.6% approx on the amount that was on your statement.
    So 1.6 euro for every hundred euro that you owed on your previous statement plus a late payment fee (or not, depending on your t&c's).


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    #3
    Thomas_S_Hunterson
    Closed Accounts Posts: 6,151 ✭✭✭Thomas_S_Hunterson


    It'll work out at about 0.048% per day. It's negligible.


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    #4
    dobsdave
    Closed Accounts Posts: 1,814 ✭✭✭dobsdave


    Sean_K wrote: »
    It'll work out at about 0.048% per day. It's negligible.
    The op didnt make a payment by due date.
    There will be interest on all monies owed.
    Its not just 2 days.


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