2008-11-05 22:00
Credit Card Customers Waste £500 Million
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In just six months time, all credit card providers will be obliged to include on statements details of the order of payments they use. Nationwide Building Society urges these companies to act now, lose the “smoke and mirrors” and tell their customers clearly how they allocate their repayments, rather than be forced by regulation in six months time. Nationwide estimates that consumers will have paid up to £500 million in interest payments, in the 12 months since it was announced that providers will have to highlight the order of payments they use.
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