My HSBC Credit Card

Friday 1st September 2006 01:37:41 PM

Got my HSBC credit card statement today and I see that I spent £425.24 for the previous month and they are asking for a minimum payment of exactly £12. Usually I bring the card back up to date before they can ask for a payment.

I knew I was low on funds this month (cousin wanted to borrow, paid some student loan, and went to London to watch a Chelsea match amongst other things). Now you know how most people pay only the minimum every month? Well, if I did that they would charge interest of £8.49 a few days later meaning I would have only reduced the balance by £3.51!

Is it me or does this seem like a white collar con? I think I need to ditch and switch.

Some links: Record numbers declaring bankrupt, Bankruptcy rate forecast to rise, Debt defaults knock Barclaycard, Bankruptcies set for big increase

Posted by Piniyini

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Fri 1st Sep 06 10:49:17 PM 1 Rai: i am thinking of giving mine up for good.its impossible to have one and not be under debt

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