>> I may be wrong, but I have a faint recollection that the practice you are
>> describing was outlawed a few years ago.
>>
Here it is:
Most expensive debts to be paid off first
01 January 2011
Under new rules that come into force today, credit card companies must treat their customers more fairly – giving them greater control over their credit limits and the interest rates they pay, as well as enabling them to clear outstanding debts more quickly.
The changes apply to all credit card providers. Among the new rules is an end to the negative order of payments (or ‘negative payment hierarchy’) that many lenders have imposed on their customers.
www.which.co.uk/news/2011/01/new-rules-to-speed-up-payment-of-credit-card-debts-240548/
Last edited by: John H on Mon 31 Dec 12 at 14:11
|
