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What will I be charged each month if my credit card is 5.8% PA and my balance is 3600 pounds?

Ive got a Citibank credit card and it was 5.8%PA for the life of my balance and Im being charged 18.35 pounds for the first month is this right? Im rubbish at maths
I wont touch the card apart from paying it off. I transferred the balance from a high interest card and wont take any cash out or spend. Are the figures correct though?

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2 Responses to “What will I be charged each month if my credit card is 5.8% PA and my balance is 3600 pounds?”

  1. Paul S said:

    The interest rate will differ. Did you draw cash on the card? This will incur a higher interest rate than if you paid for goods. £3600 is a lot so yes, the interest is going to be high. You could try a balance transfer to another card

  2. hooterville said:

    It looks right
    5.8% per annum = .48%/month
    .48% * 3600 = 17.28

    Might be some transfers fees or something, but it is close




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