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Old 07-20-2009, 04:35 AM
chin chin is offline
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Default Interest charges
Credit card issuers usually waive interest charges if the balance is paid in full each month, but typically will charge full interest on the entire outstanding balance from the date of each purchase if the total balance is not paid.




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Old 07-21-2009, 07:32 AM
credit07 credit07 is offline
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I think they should charged for you for each month when you paid money in credit card.
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Old 07-22-2009, 09:17 AM
darrylrio darrylrio is offline
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Section 808(1) prohibits debt collectors from collecting any amount unless the amount is expressly authorized by the agreement creating the debt or is permitted by law. For purposes of this section, "amount" includes not only the debt, but also any incidental charges, such as collection [53 Fed. Reg. 50108] charges, interest, service charges, late fees, and bad check handling charges.
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Old 07-22-2009, 09:25 AM
jacks jacks is offline
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Hello,

Credit card interest is the principal way in which card issuers generate revenue. A card issuer is a bank that gives a consumer (the cardholder) a card or account number that can be used with various payees to make payments and borrow money from the bank simultaneously.



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Old 08-28-2009, 11:50 AM
James Walter James Walter is offline
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I think there should not be concept of interest in this world but then I think that if banks will not charge such charges then how can they get paid
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Old 08-28-2009, 01:51 PM
thewebhostingdir thewebhostingdir is offline
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Credit card companies charges interest on the entire bill outstanding every month. So basically the interest are the income of the card issuers.
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Old 08-28-2009, 03:10 PM
John John is offline
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Credit card hidden charges is the most annoying part of having unpaid bills in due time. They charge late payment, finance charges and more plus plus.

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Old 09-04-2009, 10:42 PM
Hanratty Hanratty is offline
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it changes frrom day by day or month
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Last edited by Hanratty; 09-19-2009 at 02:30 PM.
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Old 09-13-2009, 06:15 AM
keddy1 keddy1 is offline
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yeh the hidden charges part is always irritating.you expect one amount and you get some other due to it
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Last edited by keddy1; 09-13-2009 at 07:19 AM.
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Old 10-02-2009, 02:08 PM
Stephen Fabie Stephen Fabie is offline
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Exactly, that is why if you only pay the minimum amount it is of advantage to the issuing bank. They can earn much from your purchases in that case than when you pay it in full each month.
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Last edited by Stephen Fabie; 10-02-2009 at 02:43 PM.
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