Reply
Contributor
VirusCredit13
Posts: 163
Registered: ‎02-20-2013
0

Interest charge

[ Edited ]

Just notice on my last statement I was charged 3 cents interest on my Amex BCP.

 

This card is suppuse to have 0% APR through june. Yeah been carrying balance, but never saw this before.

 

It was charged the same time(seperate transaction) as my annual fee of $75. Not sure if this is related. It's just 3 cents, it is definetly not interest on my current balance, but just curious why it happened and wanted to know if anyone else expierenced this during their intro rate. 

 

No international purchases or anything like that. 

New Contributor
Shelly313
Posts: 201
Registered: ‎04-02-2014
0

Re: Interest charge

I don't have an Amex, but I would just keep an eye on your next statment, and if happens again I would call them.  Even if its only a few cents.  I hope someone will be able to shed some light for you on this.

Started Gardening 4/3/2014

Current Score: (04/2014) EX: 629 I TU: 650 I EQ: 654

In my Wallet:
Barclays NFL: $2000 I VS: $700 I Discover: $1600 I AU: Amex ED $2000
Frequent Contributor
Chris679
Posts: 358
Registered: ‎03-09-2010
0

Re: Interest charge

0% APR would be for new purchases. if you are carrying a balance you would have the grace period for purchases but not fees I'm guessing. $.03 would be 1 day of interest on $75 if your APR is around 13-16%. I'm thinking the fee hit the last day of statement and $.03 is the interest for that 1 day.
Contributor
VirusCredit13
Posts: 163
Registered: ‎02-20-2013
0

Re: Interest charge


Chris679 wrote:
0% APR would be for new purchases. if you are carrying a balance you would have the grace period for purchases but not fees I'm guessing. $.03 would be 1 day of interest on $75 if your APR is around 13-16%. I'm thinking the fee hit the last day of statement and $.03 is the interest for that 1 day.

Ah this makes perfect sense. The interest charge on the full statement says it was applied to $2.41, at 12.99 APR gave me the $.03. $75/31 =~2.41 so it all makes sense now. Thanks!


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}