Why are my displayed credit card balances different?

When you log into internet banking to view your credit card account, you’ll notice there are two balances:

• an overall ‘balance’ (top left) and;
• a ‘running balance’ which is under ‘completed transactions’

Although they’re very similar, they will display two different figures.

Your ‘balance’ is how much you owe including all interest accrued. Accrued interest is interest that has been calculated but not yet charged to your account.

Your ‘running balance’ shows how much you’ve spent without any accrued interest or pending transactions. And what’s ‘available’ is your credit card limit minus all purchases, pending transactions and accrued interest.

ME calculates accrued interest every day and this is reflected in your ‘overall balance’ – you may also notice your ‘available balance’ decreasing because of this. Interest (if any) is only charged monthly, just before we send your monthly statement.

If you want to avoid interest on your credit card make sure you pay off the full closing balance by the due date each month.