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Welcome to the Help Centre

How is interest calculated?

When you use your Credit Card, you are borrowing money – and will be charged interest until the date you repay the full balance. Interest is calculated each day on the outstanding balance until a payment is made to clear the outstanding balance in full.

The amount of interest you will be charged depends upon:

  • The interest rate of your Credit Card
  • The amount you spend
  • When you spend it
  • When you pay your Credit Card bill

Trailing interest, also known as ‘Residual interest’, is the interest charged on your Credit Card balance that accumulates between your billing statement date and the date that you pay the bill in full.

Trailing interest only applies if you carry a balance on a credit card from month to month. Once the statement balance carried over from the previous month has been paid in full, the trailing interest will stop accumulating and will be applied on the following month’s statement.