Minimum payments on credit cards

ligny

Does anyone know if one can claim for the excessive fees imposed by Credit Card Companies due to failure to make minium charges. It seems a double wammy as they are collecting interest and the late fee

aj3001

Maybe you should be paying it off?

Setup a DD to pay off every month then don't moan

CLAPTON

yes you can reclaim the penalty charges for late payment of the monthly payment.

however, you should consider setting up a DD to pay the full amount off each month

doubtless you know that if you only pay the minimum payment each month on a normal credit card you will take over 10 years to clear the debt and pay a huge amount of interest.

But if you can't afford to clear the full amount each month the set up a DD for the minimum, make an additional payment each month to clear the debt more quickly and stop using the card until its cleared.