Question:

When is NAB credit card purchase interest charged?

by Guest22767009  |  8 years, 8 month(s) ago

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My friend was charged purchase interest on National Australia Bank credit card. Can someone tell that when is National Australia Bank credit card purchase interest charged?

 Tags: card, charged, credit, NAB, purchase

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1 ANSWERS

  1. Banking Expert
    If the account has an interest free period, and the closing balance of the credit card account is not paid in full by the payment due date each month, interest on purchase transactions is calculated from the day the transaction originally took place until the end of the statement period. If the account doesn’t have an interest free period, interest on purchase transactions is calculated immediately i.e. generally the date the transaction takes place, and billed at the end of each statement period. Purchase interest is calculated daily until the transaction is paid off in full.

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