Overview
- Lewis posted a Feb. 3 video on X titled “Credit Card Warning: when 1p costs as much as £1,000” to underline the risk of falling short by even a penny.
- On his BBC podcast, he told a listener that surprise charges can result from cash withdrawals even if the rest of the balance is paid off.
- Paying a statement even one penny short can forfeit the grace period and lead to interest on the entire billed amount for that cycle.
- Cash advances typically incur interest from the date of withdrawal plus fees, with Nationwide citing 2.5% or a £3 minimum and some providers charging up to 5%.
- Coverage from the Mirror, Manchester Evening News and Chronicle Live amplified the consumer reminder this week, with no changes to credit card rules reported.