Just received my credit card annual statement. As I always pay the monthly balance in full, I wondered why the amount I have paid back is greater than the amount I have spent?
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Just received my credit card annual statement. As I always pay the monthly balance in full, I wondered why the amount I have paid back is greater than the amount I have spent?
The reason it looks like you have paid more towards your Credit Card over the course of the year is that between the start date and the end date on the annual statement, the amount of Credits and Debits are calculated. Due to the nature of your Credit Card account the bill is always paid in arrears.
This means that, for example, if your statement date is 8th of the month your annual statement will run from 8th July 2014 to 7th July 2015. This will include all credits from the July 2014 statement up to all the last full statement produced in June 2015. It will include all the payments made towards the statements from July 2014 up to and including the June 2015 statement.
If you check your statement, the difference in Credits and Debits, should be the amount between the two end statements i.e. the first and last within the annual statement date.
If you have any further queries please search for an open thread or if none applicable please start a new thread like you have done here and we'll get an answer for you.
Alternatively, you can call our Customer Service team on 0345 300 4278 (opened 24/7).
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Tesco Personal Finance plc, trading as Tesco Bank as part of the Tesco Group take the security of your data seriously. We want you to be confident that your data is safe and secure with us and understand how we use it.
We collect data when you browse our website (e.g. your IP address) and register for the Community. To find out more about how we use your data, our legal basis for processing your data and your rights under data protection laws please view our Privacy Policy.
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Tesco Bank Community Terms of Service v 1.0
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