Looking for an answer, do you get charged compound interest on UK credit cards????

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		The Consumer Forums > The Consumer Forums The Bank Action Group - against unlawful bank charges > General
Looking for an answer, do you get charged compound interest on UK credit cards????

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General Come here to discuss general issues in the unlawful charging by banks debate.
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24th June 2008, 08:17	#1 (permalink)
Enron Site Team Watch out, there are Claims Touts about! Challenge your credit file? Join Date: Jun 2006 Posts: 1,399	Looking for an answer, do you get charged compound interest on UK credit cards???? I know that the practice of interest being charge upon interest occurs in the US, I wonder if compound interest also occurs on UK credit cards? Knowing the banks it likely does, but wonderred if anyone knew for sure.

24th June 2008, 08:31	#2 (permalink)
MrShed Platinum Account Customer Watch out, there are Claims Touts about! Challenge your credit file? Join Date: Oct 2006 Posts: 4,496	Re: Looking for an answer, do you get charged compound interest on UK credit cards???? If you mean do you pay interest on your interest, yes you do.

24th June 2008, 09:51	#3 (permalink)
Enron Site Team Watch out, there are Claims Touts about! Challenge your credit file? Join Date: Jun 2006 Posts: 1,399	Re: Looking for an answer, do you get charged compound interest on UK credit cards???? Thanks, just looking to any articles which specifically state this now with reference to UK credit cards.

24th June 2008, 09:54	#4 (permalink)
MrShed Platinum Account Customer Watch out, there are Claims Touts about! Challenge your credit file? Join Date: Oct 2006 Posts: 4,496	Re: Looking for an answer, do you get charged compound interest on UK credit cards???? I dont know why thered be any articles - you get charged interest on your full outstanding balance, which includes prior interest. Check the T&Cs of some credit card maybe?

24th June 2008, 12:46	#5 (permalink)
Enron Site Team Watch out, there are Claims Touts about! Challenge your credit file? Join Date: Jun 2006 Posts: 1,399	Re: Looking for an answer, do you get charged compound interest on UK credit cards???? Thanks.

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