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Do CC fiddle with minimum repayments during BT deals?
chattychappy
Posts: 7,302 Forumite
in Credit cards
From time-to-time I've noticed Barclaycard, MBNA and probably others modify minimum repayment rules. This has never yet been to my detriment.
Has anyone taken out a BT deal and then found the CC company attempts to increase the minimum repayment? This would be particularly significant in the case of long term deals - eg life of balance deals.
Has anyone taken out a BT deal and then found the CC company attempts to increase the minimum repayment? This would be particularly significant in the case of long term deals - eg life of balance deals.
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chattychappy wrote: »From time-to-time I've noticed Barclaycard, MBNA and probably others modify minimum repayment rules. This has never yet been to my detriment.
Has anyone taken out a BT deal and then found the CC company attempts to increase the minimum repayment? This would be particularly significant in the case of long term deals - eg life of balance deals.
The only time I've had something change during a promotional offer, it was actually a decrease in the minimum payment. I'm on an LOB deal of 6.9 or 7.9% (can't recall without looking it up).
It was my Halifax card and the minimum is now 1% rather than 2%. It will take longer to pay but at the moment, it's a welcome reprieve. There are higher interest rates for me to attack on other debts first.
I have heard of card companies drastically reducing credit limits while a customer is on a promotional rate to below the current balance level. This would appear to be a way of kicking someone of a promotional rate if they can't afford to pay the amount off their balance. I'm surprised that this is legal.0 -
chattychappy wrote: »From time-to-time I've noticed Barclaycard, MBNA and probably others modify minimum repayment rules. This has never yet been to my detriment.
Has anyone taken out a BT deal and then found the CC company attempts to increase the minimum repayment? This would be particularly significant in the case of long term deals - eg life of balance deals.
Nope, never had a problem with it."A child of five could understand this. Fetch me a child of five." - Groucho Marx0 -
Paulgonnabedebtfree wrote: »The only time I've had something change during a promotional offer, it was actually a decrease in the minimum payment. I'm on an LOB deal of 6.9 or 7.9% (can't recall without looking it up).
It was my Halifax card and the minimum is now 1% rather than 2%.
Yes they did the same to me - I took the 6 months 0% offer rather than the LOB deal.0
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