18th February 2026
Is the message in the video true? Yes and Here's why.
The video features Martin Lewis explaining a common misunderstanding about credit cards:
If you spend £1,000 on a credit card and repay £999.99, you don’t pay interest on the missing penny you pay interest on the entire £1,000.
This is exactly how most UK credit cards work, and the claim is supported by multiple reputable sources.
What the video says
The video states:
If you spend £1,000
And repay £999.99
You are charged interest on the full £1,000, not just the 1p shortfall.
This is because you only avoid interest if you clear the full statement balance by the due date.
This matches the explanation in the YouTube description itself, which states the same rule clearly.
What independent sources say
Multiple news outlets confirm the same warning:
Express.co.uk
Martin Lewis warns that failing to pay off your credit card in full "could see you charged interest on the entire balance," and that being 1p short can cost “as much as £1,000.â€
Another Express report
He highlights that even being a penny short means you lose the interest‑free period and get charged on the whole amount.
Yahoo News UK
Lewis explains that some people get hit with interest despite thinking they paid in full — and that the issue often comes down to not clearing the entire balance.
YouTube version of the same warning
The longer video repeats the exact same rule:
If you pay £999.99 of a £1,000 balance, you pay interest on the full £1,000.
Why this happens
Credit cards only give you 0% interest for purchases if:
You pay the full statement balance
By the due date
If you pay even 1p less:
You lose the interest‑free period
Interest is charged on the entire statement balance
Interest may also accrue daily until fully cleared
This is standard across almost all UK credit cards.
Yes — the message in the video is accurate.
Martin Lewis is warning about a real and well‑documented rule:
Being even a penny short means you pay interest on the whole balance, not just the missing penny.