BILLED DEFERRED FINANCE CHARGES Cannot fnd an explanation for this Charge.

[gettingolder]

BILLED DEFERRED FINANCE CHARGES

 

 

What the heck is this? I have been checking my credit card to make sure everything is as it should be and found two of these entries. One is for £0.38 and the other is £1.76.

 

 

it says merchant and gives a code, but the code means nothing to me, as I cannot identify the merchant. I buy from overseas at times and there is a transaction fee for this, so am at a loss to cross reference this.

 

 

I am loathed to phone them tomorrow on the 0300 number supplied on the statement.

[obiter dictum]

I have this with Vanquish credit card

 

When you buy something on credit you have a 30 day interest free period

 

The charge is the difference between that 30 day period expiring and your next statement date interest applied to the account

[gettingolder]

Sneaky devils. For a moment I thought it was another overseas transaction fee and they were adjusting the exchange rate..I was gearing up to have an argument with this had this been the case.

 

 

So if I buy and then pay the balance on the card in full within two or three days of the purchase I might not get this fee. I pay in full each month on the due date.

[obiter dictum]

Yes, you will need to bring the account balance to zero each month to stop this charge