Question ID: 25270
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asalaamualaikum

I currently utilize my credit card on a monthly basis, i pay the full amount every month so that i do not incur interest. a few months back, i made 2 separate payments to the credit card company, 1 payment for R3000.00 and 1 payment for R7000.00. unfortunately the R7000.00 payment was delayed for to a delay on the banking system and i was charged R439.00 interest. I queried this with the bank and they advise that if they do not receive the full payment by the due date, i am liable for interest on the full amount.. there is nothing i can do to reverse the interest.. even after they have received the money… will i be punished for paying this interest?
shukran.

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Asked on April 19, 2009 12:00 am
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No
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Answered on April 19, 2009 12:00 am