I have a balance of about £3500 on a virgin credit card on the 0% for
Usually 3% OR 5 whichever is greater.
"Adrian Boliston" wrote
Actually, the relevant rate is 2.25% (not 3%), as for other MBNA-run cards.
*BUT* they have a policy of " *least* of three calculations ":- (1) 2.25% of your balance (min. 5) or (2) charges for Payment Protection Cover plus interest and fees, plus 5 or (3) your balance, if it's under 5.You'll see that option (2) above often comes out the lowest -- if you don't have PPC and are currently on 0%, then it only goes over 5 if you've had other charges added to your a/c that month (eg any balance transfer fee).
Don't you ever read the leaflets that come with the advertising, & application, & card etc etc?
Usually, must not have done with this one though. Thanks for explaining it to me. I can see it is different to other cards that I have had.
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