SIR – I wonder if any of your other readers have experienced this particular way the banks go about extracting money from their customers.
I normally pay my credit card bill in full each month but in August after checking all the entries I wrote a cheque for what I thought was the full amount, but I had forgotten to turn the page over, so missed the actual total.
September’s statement came with £6.92 interest – fair enough. I made sure I wrote the cheque for the full amount this time.
October’s bill came and I was quite baffled to see £3.62 interest.
On contacting my credit card company I was told that they carry on charging interest for a further two months.
I asked them what the interest was charged on and they could not give me an answer.
This amount was trivial but never having experienced this before I felt concern for people who do not clear their credit card accounts each month, this much mean that the companies carry on adding interest ad infinitum.
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