Originally Posted by pjbiju
(Post 1622721)
I have used their 3 months interest free cash (they charge 2% processing fee - which is their interest) offer a couple of times. I made sure to pay back everything before 90 days. |
Originally Posted by Guna
(Post 1622707)
I always had the credit card and savings account from the same bank as it is easier to pay the credit card bills but never faced this problem, even when I had overshoot the due date etc. Unlesss someone has opted for the auto payment option, how can they transfer the money without the consent of the account holder? This must be done under some special circumstances. |
Originally Posted by bblost
(Post 1622765)
I have a question. If you take a loan for 3 months or 90 days. Then there are atleast 3 billing cycles in between. The amount would show in the total amount due. So will it calculated into the minimum amount to pay. i.e. although the loan is for 90 days interest free. Would you need to pay the minimum or 2% every month. |
Originally Posted by Guna
(Post 1622707)
I always had the credit card and savings account from the same bank as it is easier to pay the credit card bills but never faced this problem, even when I had overshoot the due date etc. Unlesss someone has opted for the auto payment option, how can they transfer the money without the consent of the account holder? This must be done under some special circumstances. |
Originally Posted by Seeler_Rebeiro
(Post 1622757)
Don't trust your luck too long. |
Originally Posted by shankar.balan
(Post 1622867)
If there is an overdue outstanding on a credit card, the bank is perfectly within its rights to "collect" its outstanding debts via the bank account and/or if required, through the employer. This is why it is a seriously bad idea to rotate credit on the credit card. Always pay up the total amount due in full on or before the due date. Else one will end up paying massive amounts towards interest and other levies which can be extremely difficult if it is allowed to go out of control. |
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