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PPI Calculation

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Paymentcare offers a flat rate of £3.95 per £100 of credit. If I have £12,000 debt over five years what is the monthly cost? It can't be as low as £474/60 can it?

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  • Astaroth
    Astaroth Posts: 5,444 Forumite
    Ok, looking at their website it is from £3.95 per £100 per month for cover for a loan. As you have posted this question in the Credit Card page I assume that this is what you have in which case it is from 65p per month per £100 of outstanding balance with a min from £6.50 per month
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