Is it legal to charge interest on an entire credit card balance?

Question asked by: mrquestion

Asked on: 27 Jan 2010

One of the most annoying things about a credit card is the fact where you accidentally misread the balance.

Let's say you pay off last months balance instead which is about £1 less than this months. So you get charged interest on the £1 you missed to pay off right?

Wrong! In most cases you get charged interest on the entire balance of the card which is really frustrating however that's what most companies do. And that's why you should always triple check that you are paying off the right amount each time.
By: knowitall
Replied at: 27 Jan 2010
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entire credit card balance interest legal charge

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