Hello
Is there anywhere I can get advice on why and how companies are getting away without notifying me why they are only taking out the minimum balance, and not the the whole amount, like I set up when I opened the card up.
Advice greatly appreciated.
Thanks
Newton
Why? To get more interest out of you.
How? Because the government permits them to. A lot of credit card providers are even reducing the minimum required monthly payment so you ultimately pay more in interest.
Try reviewing your accounts at least once a fortnight and make the payments via online banking if you can't get to the bank. Don't trust a credit card company to effectively stop them from earning money from you.
Hello
Is there anywhere I can get advice on why and how companies are getting away without notifying me why they are only taking out the minimum balance, and not the the whole amount, like I set up when I opened the card up.
Advice greatly appreciated.
Thanks
Newton
Give them a ring and tell them to take the full balance by DD every month.
Is that all you have to do- call them, and tell them to take the full amount?
