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Credit Card Confusion

  • 16-10-2022 1:51pm
    #1
    Staunton96
    Registered Users, Registered Users 2 Posts: 42 ✭


    Hi,

    I'm confused regarding payment requirements for my credit card.

    My most recent "statement date" on my credit card was 23 September, with a due date of 18th October. The outstanding amount was transferred from my current account on the 27th September, this brought my outstanding balance to 0 euro.

    I have since used my credit card again and almost maxed it out. Have I paid my September invoice amount? I am worried that come the 18th, I now have to pay the balance currently on my card, even though the September invoice amount of 531.55 was transferred into the account to bring it back down to 0. I don't understand this period of no mans land where I paid off my card, but have since used it all up again?

    Screenshot 2022-10-16 at 14.50.23.png




Comments

  • #2
    Staunton96
    Registered Users, Registered Users 2 Posts: 42 ✭Staunton96


    Also, in the terms and conditions, it says "Accrual/Payment. Any interest you owe us accrues daily and we will debit accrued interest from the Account monthly." Does this mean my balance is charged the interest rate (shown as 14.5-20% ish in the T&Cs) everyday until I repay it?? ie. On a 531.55 bill, I could end up paying 100 euro a day? Or is it in total



  • #3
    Bank of Ireland Reps
    Closed Accounts Posts: 1,293 ✭✭✭Bank of Ireland Reps


    Hi there,

    Thanks for getting in touch with us.

    Please contact our colleagues in the credit card team on 0818251251 between 9am to 5pm Monday to Friday where we can access your account to answer any queries in relation to payments, the balance and the interest rate.

    Thanks,

    Declan



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