How to avoid the minimum payment

NeilW

It's remarkably easy to avoid having to pay the minimum payment on many credit cards with a 0% purchase facility.

After you get the statement, simply buy something with it that is more than the minimum payment from somewhere that has a no quibble refund policy and then take it back. The credit card refund is treated by many credit card companies as a payment and the minimum payment direct debit won't happen.

Obviously this works best on a credit card that has both a 0% BT facility and a 0% purchase facility of the same length. And of course never do it with a card that doesn't have a 0% purchase facility for all the usual reasons.

NeilW
(Desperately wringing the last few pennies out of the stoozing system).

CTT_2

NeilW wrote:

It's remarkably easy to avoid having to pay the minimum payment on many credit cards with a 0% purchase facility.

After you get the statement, simply buy something with it that is more than the minimum payment from somewhere that has a no quibble refund policy and then take it back. The credit card refund is treated by many credit card companies as a payment and the minimum payment direct debit won't happen.

Obviously this works best on a credit card that has both a 0% BT facility and a 0% purchase facility of the same length. And of course never do it with a card that doesn't have a 0% purchase facility for all the usual reasons.

NeilW
(Desperately wringing the last few pennies out of the stoozing system).

Great idea but could;nt be bothered with the hassle. However thats just me!