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Changing Payment Date
Comments
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Thrugelmir wrote: »Possibly slightly higher than £562 for ongoing payments. As payment will be made 15 days after the interest calculation is made. Normally the interest will be calculated on (for example) the 31st of the month. Payment being made on the 1st. By deferring payment to the the 15th. Interest charged on the outstanding balance from the 1st to 14th will compound on the previous months closing balance.
HSBC said it will return to the regular payment the following month and thereafter.0 -
Thrugelmir wrote: »Possibly slightly higher than £562 for ongoing payments. As payment will be made 15 days after the interest calculation is made. Normally the interest will be calculated on (for example) the 31st of the month. Payment being made on the 1st. By deferring payment to the the 15th. Interest charged on the outstanding balance from the 1st to 14th will compound on the previous months closing balance.
I suspect they just change the date of interest calculations to the new payment date, thats why there is an additioanl payment for the interest.0
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