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If the law on credit changes?...
Milarky
Posts: 6,356 Forumite
in Credit cards
According to Nationwide, if 'fairness' provisions in the Comsumer Credit Bill go through then the order of payments on debts at different rates of interest will be 'highest/lowest' rather than 'lowest/highest'. It's an obvious point, really, but how would that affect customers with currently existing life of balance deals [e.g. Barclaycard] if, say a new offer is added after any change? In general changes to the law aren't retrospective, but could card companies be caught out by this, does anyone think?
Thanks
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