Credit card interest rip off

maltesedog

Yorkshireboy, im a maltese resident lol so the procedure is different here.
I find this forum useful even because there is similarities between financial services in my country and yours. Also I'm a frequent visitor to the UK (3 times a year) and after all both countries are EU countries .

YorkshireBoy

maltesedog wrote: »

Yorkshireboy, im a maltese resident lol so the procedure is different here.
I find this forum useful even because there is similarities between financial services in my country and yours. Also I'm a frequent visitor to the UK (3 times a year) and after all both countries are EU countries .

Hang on a minute!

You asked in post #3 "is it legal?" Many of us don't know the laws in our own country...let alone those in another one!

maltesedog

By that question I didn't expect readers to know Maltese legislation!

I asked whether its legal in the UK.. to be able to compare what other countries.

Banks in Malta operate in an oligopolistic market.. and therefore sometimes you have to resort to what is legal in other countries to get to know the actual facts!!!!

Also there are EU directives on financial services.. which apply to all EU countries!!!!!

MarkyMarkD

Just because you don't like something doesn't make it a "rip off" or wrong.

The transactions in each billing period are separate. Your bill shows the amount due, in respect of that billing period.

It's up to each card operator whether they choose to deem a refund transaction, in the subsequent billing period, as a payment. Egg do; most other UK card issuers do not.

You seem to have assumed, incorrectly, that the refund met your liability to make a payment in respect of your original bill. If you weren't sure, you should have checked.