Re: Egg Money Overlmit Charges
The press release goes on to say where there are exceptional business factors, so that the presumption that a default charge over £12 is unfair is not applicable, this does not necessarily mean that the current level of the default charge is consistent with the OFT's interpretation of the requirements of unfair contract terms legislation. But for example, where a card issuer has a policy of requiring customers to pay minimum monthly repayments by direct debits, such as that operated by Egg, and offers credit cards only to customers that satisfy a relatively high scoring requirement it may be able to set a fair default fee at a level above the threshold.
As I said earlier, intersting to see that Barclaycard have reduced the charges to £12.
Anyone know what Citi are now charging Irish credit card holders?
Just looked, don't think Citi operate in Ireland anymore but at todays XE.com excahnge rate AIB have credit card charges of around £6, if memory serves that is about what Citi Ireland used to cahrge.
The press release goes on to say where there are exceptional business factors, so that the presumption that a default charge over £12 is unfair is not applicable, this does not necessarily mean that the current level of the default charge is consistent with the OFT's interpretation of the requirements of unfair contract terms legislation. But for example, where a card issuer has a policy of requiring customers to pay minimum monthly repayments by direct debits, such as that operated by Egg, and offers credit cards only to customers that satisfy a relatively high scoring requirement it may be able to set a fair default fee at a level above the threshold.
As I said earlier, intersting to see that Barclaycard have reduced the charges to £12.
Anyone know what Citi are now charging Irish credit card holders?
Just looked, don't think Citi operate in Ireland anymore but at todays XE.com excahnge rate AIB have credit card charges of around £6, if memory serves that is about what Citi Ireland used to cahrge.
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