» Business & Finance » Complaint / review: Visa - Interest rates on unpaid balance | #7329

Interest rates on unpaid balance

As an example: If you have made two purchases, $1, 000.00 each at the begining of the billing date, for a total balance of $2, 000.00 at the end of the billing date and you pay $2, 000.00 against the balance on the due date, then there is no "purchase interest" charged.

On the other hand, if you only pay $1, 000.00 against the balance of $2, 000.00 leaving a balance of $1, 000.00 then RBC Visa charges you the monthly "purchase interest" on the $2, 000.00 - or - 19.5% divided by 12 = 1.625% monthly interest in the case of $2, 000.00 this would be $32.50.

The above makes no sense and is illogical.

Can you please enlighten me

[email protected]


Company: Visa

Country: Canada   Province: Ontario   City: Toronto

Category: Business & Finance


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