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Are the rules changing re: credit card interest repayment order?
BigCraigJohn
Posts: 1,082
Forumite
Brother had this message on his Virgin statement yesterday
Is this a new rule or just mbna?
Good News! From September 2010 any payments you make will always go towards paying off balances at the highest interest rate
Is this a new rule or just mbna?
Good News! From September 2010 any payments you make will always go towards paying off balances at the highest interest rate
0
Comments
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I think the current situation that the rules are likely to change fairly soon and they are just getting in early.
Although they may only have to change to pay off all different rated balances pro-rata rather than highest first.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0 -
The rules are changing.
This means a little less profit for the credit card company's. However if they can show it as good news, you may be tempted to spend MORE on the card!!There will be no Brexit dividend for Britain.0
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