Is this standard credit card interest

[VivaLeBeaver]

I normally pay 100% of my credit card bill every month but last month accidently underpaid by £12. So in one month they've added £4.62 interest and I now owe £17. It says that interest is 0.026 a day (9.95pa), it just seems a lot to add on. Obviously its only a small amount so not a problem. But thats more like 33% interest. Am I being thick.

If you don't pay the whole bill off, interest is charged on the whole amount, not just the outstanding balance. So presumably the bill was about £582 and you paid £570?

That's one of the ways they make their money.

Wow, had no idea they charged interest on all of it! Buggers. But yes, it adds up now. Thanks.

To avoid this in future you might want to consider setting up a DD to pay off the full amount each month. Make sure you keep careful tabs on the balance so that you have enough funds in your current account to make the payment.