118 Credit Card 34% Apr

[pumpjack]

based on spending £ 100 per month then what is the fee in total i pay back through direct debit ,
or is it best to just to pay with another card as i much as i can ?


thanks

[bednobs]

it depends on how much you payback, surely?

[ummmm]

It might have changed but I always thought the minimum payment was 5% of the balance.

That's a high interest rate though.

[jno]

you can pay the lot back if you want; I do. But have a look at the T&C, that should tell you the minimum.

[Peter Pedant]

dont get into debt
BUT 34% APR is quite a good deal

I mean how did wonga go out of business with 1050% APR ? and some were over £3000

[New Judge]

If you don't pay off the total amount outstanding you will be charged interest on the entire statement amount. So, if you spend £100 in a month but can only pay off £95 you will be charged interest on £100. You should either pay the full amount or the minimum (which is usually 5% subject to a minimum of perhaps £5 or £10).

An APR of 34% is about 3% per month so you will pay £3 if you have spent £100 but don't pay it all off.

[pumpjack]

so, moral of story is pay off all debt per month in total !

im guessing i can do this by phone with my bank debit card instead of setting up a direct debit

[Peter Pedant]

yeah pay it off every month
this means you are using your credit card as a charge card and it should be free -

anyway you;re the one with a house worth of Baht under your bed arent you?

[Nerzevul]

Hmm .. I think this is a very profitable offer. Of course, a loan is not always good, but I am sure that you can handle a small loan for a smartphone. When signing any loan, a minimum amount is stipulated that must be paid every month. If you do not consolidate this amount on time, then you will have to pay interest, which will grow every month until it is paid. Also, do not forget that some banks provide you with a credit card, for the service of which you also have to pay. For example, I use the services https://www.rateweb.co.za/credit-cards/capitec-credit-card-review/ and monthly pay a little more than two dollars for card service. This is not a very large amount, but you shouldn't forget about it.