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Who's got the cap one no interest card jan 2008? Minimum payment to high?
Comments
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Cap 1 is 3% of o/s balance.
MBNA is Interest rate plus £5.
Therefore if you are on a 0% deal it's £0 plus £5 !
If your interest rate is 12% per year (1% per month), and you owe £10k then your minimum repyment would be £100 plus £5. Quite simple really.
Cancel you MBNA and re apply in a couple of months if you are struggling to pay £80+ to Cap one.
Back to MBNA your balance is NOT increasing as someone incorrectly pointed out, it's just you are paying it back slower. Personally I have both, wish I could afford 3% on £10k but I can't.nothing.0 -
Isn't there a 12 month wait before you can apply again?Tom_Saunders wrote:Cancel you MBNA and re apply in a couple of months if you are struggling to pay £80+ to Cap one.0
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