Credit Card Issuers Get Tricky
Newcastle Herald
Tuesday September 26, 2006
MANY credit card issuers are being "mean" in the way they calculate interest, and this has made some low-interest rate cards much more expensive than customers think, a report says.
The Australian Consumers Association found eight card issuers used "tricky" methods to maximise interest including calculating daily interest on the full value of a transaction, even if some of it had been repaid on time, charging interest back to the original purchase date. SMH
© 2006 Newcastle Herald
