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Clearing your balance

Clearing your balance

This example explains the interest charges which could apply when clearing your balance.1

Woman using tablet, with the 'Clearing your balance' icon

This is Kate. She hasn’t used her credit card in over a month so, when her latest statement arrives, she decides to pay off her outstanding balance.

Person using laptop and smartphone

The amount shown on Kate’s statement is £2198.09. This includes all interest charged up until the date the statement was produced, but not the interest that accumulates after that date. Interest is charged daily.

Kate makes a payment of £2198.09 using her debit card.

Woman on bike with 'Clearing your balance' icon

Kate’s next statement arrives. She hasn’t used her credit card in over two months now.

Kate’s outstanding balance is £18.02, which is the interest charged between her previous statement being produced and the date her last payment reached her account.

As the £18.02 is purely interest, we won’t charge further interest on that amount.

Woman looking at tablet with the 'Clearing your balance' icon

Kate makes a payment of £18.02 which then clears her balance in full.

She’ll receive a final statement showing her balance as paid in full.

No further statements will be issued when there's no account activity or balance left to pay.

1 This example is provided for illustrative purposes only. It may not be representative of real account information.