Never miss a credit card payment or you will count the cost
New figures show that by missing just one single payment on a 0% balance transfer credit card could cost as much as £278.
Omitting a payment could incur increased interest charges in addition to losing a card’s introductory benefits and possibly damaging one’s own credit file. This advice is offered by comparison site Moneysupermarket.com, whose head of credit cards highlights the lack of awareness on the customers’ part as to the extent and severity of penalties incurred through missing a single payment.
There are currently 31 cards which automatically revert back to the typical APR after one single missed repayment, which could prove very costly for the credit card holder.
Omitting a payment could incur increased interest charges in addition to losing a card’s introductory benefits and possibly damaging one’s own credit file. This advice is offered by comparison site Moneysupermarket.com, whose head of credit cards highlights the lack of awareness on the customers’ part as to the extent and severity of penalties incurred through missing a single payment.
There are currently 31 cards which automatically revert back to the typical APR after one single missed repayment, which could prove very costly for the credit card holder.
Read more at: Never miss a credit card payment or you will count the cost
Labels: Credit Card Payment, Low APR Credit Card, Prepaid Credit Card
posted by e-borneo.com @ 5:49 PM
0 Comments:
Post a Comment
<< Home