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How does Payment Protection work?
J-Pop
Posts: 91 Forumite
in Credit cards
Hello,
I am just sending off some forms i have completed for PP on a couple of credit cards i own.
I am unemployed just now and normally i would pay about double of the minimum monthly payment and was wondering how it will work out when the PP kicks in.
Does the interest stop on the card and is only the minimum payment made?
Thanks for any reply.
I am just sending off some forms i have completed for PP on a couple of credit cards i own.
I am unemployed just now and normally i would pay about double of the minimum monthly payment and was wondering how it will work out when the PP kicks in.
Does the interest stop on the card and is only the minimum payment made?
Thanks for any reply.
0
Comments
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Normally min payment or a set %. Check the t&cs of your policy to know for sure.0
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Thanks for the reply.
I can't find any details just now....need to have a search.
My credit card is Bank of Scotland.0 -
The interest will still accrue and yes they make the minimum payment as at date of last statement (not on anything you buy from now on).0
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