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Natwest Card
ajshakey
Posts: 1 Newbie
in Credit cards
Just A Couple of things about my natwest account. Was hoping someone could clarify things for me:
A couple months ago my balance was £414 (my limit is £400 btw), i paid in £30 (all i could afford). Next month i get a statement with an overlimit fee plus interest charges and my balance is now £410. i put in £20 the next month (again all i could really afford) and once again get an overlimit fee. my new balance today is £415. Luckily this month i can afford to pay a sizeable chunk off but i'll still get another overlimit fee out on my account. These charges are just impossible to avoid unless you can pay enough in to cover the amount you owe plus charge and interest before it actually goes on. I just think this is pretty unfair!
Secondly the minimum payment for this month is £9. If i paid this amount and they charge me an overlimit fee every month the account is actually impossible to pay off. I can't beleive their could be a situation if you paid the minimum fee that the card would never be paid off (i just presumed it would just take massively longer).
A couple months ago my balance was £414 (my limit is £400 btw), i paid in £30 (all i could afford). Next month i get a statement with an overlimit fee plus interest charges and my balance is now £410. i put in £20 the next month (again all i could really afford) and once again get an overlimit fee. my new balance today is £415. Luckily this month i can afford to pay a sizeable chunk off but i'll still get another overlimit fee out on my account. These charges are just impossible to avoid unless you can pay enough in to cover the amount you owe plus charge and interest before it actually goes on. I just think this is pretty unfair!
Secondly the minimum payment for this month is £9. If i paid this amount and they charge me an overlimit fee every month the account is actually impossible to pay off. I can't beleive their could be a situation if you paid the minimum fee that the card would never be paid off (i just presumed it would just take massively longer).
0
Comments
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Pretty unfair, but thats what happens when you dont organise your finances properly and its not like you wouldnt have been warned in the terms and conditions.
There is also a good article about only paying the minimum payment on this site. I think it can be summed up as keeping you perpetually in debt (not my words).0
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