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Credit card question re.: different interest rates - paid first?
#2
The reforms only required that the credit card company spell out how they would apply your payment to your various balances. It did not specify that high interest balances be paid off first. For instance, one of my cards will apply any payment of an amount up to the minimum monthly payment to the low rate balance first. Amounts over the minimum payment are proportionally applied to the remaining balances.
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Re: Credit card question re.: different interest rates - paid first? - by JoeH - 10-26-2010, 12:55 PM

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